Management Buyout Of Interline Brands — Shareholder Investigation By Tripp Levy PLLC On Behalf Of Interline Brands Shareholders
NEW YORK, May 29, 2012 /PRNewswire/ — Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the Senior Management and the Board of Directors of Interline Brands, Inc. for possible breaches of fiduciary duty and other violations of state law.
Interline Brands, Inc. (NYSE:IBI) (“Interline” or the “Company”) today announced that it has entered into a definitive agreement to be acquired by affiliates of GS Capital Partners LP (“GS Capital Partners”) and P2 Capital Partners, LLC (“P2 Capital Partners”) for $25.50 per share in cash. P2 Capital Partners owns approx. 7.9% of Interline.
In addition to equity from funds managed by GS Capital Partners and P2 Capital Partners, it is anticipated that certain members of Company management will invest a portion of their proceeds from the transaction.
The investigation concerns, among other things, whether the consideration to be paid to Interline shareholders is unfair, inadequate, and substantially below the fair or inherent value of Interline, and whether the senior management of Interline are putting their own self-interests ahead of that of the Company’s shareholders.
If you own common stock in Interline and wish to obtain additional information, please contact us at:
Tripp Levy PLLC
Toll free: 877-772-3975
SOURCE Tripp Levy PLLC