Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of ILG, Inc. (NASDAQGS: ILG) to Marriott Vacations Worldwide Corporation (“MVW”) (NYSE: VAC). Under the terms of the transaction, ILG shareholders will receive $14.75 in cash and 0.165 shares of MVW common stock for each ILG share they own. Based on the closing price of MVW shares on April 27, 2018, this represents a value of approximately $36.93 per ILG share.
The investigation concerns whether the Board of ILG breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether MVW is underpaying for ILG shares, thus unlawfully harming ILG shareholders. In particular, at least one analyst set a price target of $38 per ILG share.
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