Yesterday, CosmeticsDesign.com USA reported how the transaction had been agreed by the boards of directors of both companies, with each shareholder receiving $37.50 per share.
Robbins Umeda’s investigation concerns whether Alberto Culver's board undertook a fair process to obtain fair consideration for all shareholders of Alberto Culver.
Specifically, the investigation concerns whether members of the company's board breached their fiduciary duties to its shareholders by failing to adequately shop the company before entering into the transaction with Unilever.
Of particular note, the law firm has highlighted Alberto Culver’s third quarter results that beat analyst estimates. Additionally, in the third quarter, the Company reported net sales of $417.6 million, an increase of 18.8%, compared to the same quarter last year.