(QTS): Johnson Fistel Investigates Proposed Sale of QTS Realty; Is $78 a Fair Price?
SAN DIEGO, June 7, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of QTS Realty Trust, Inc. (NYSE: QTS) ("QTS Realty" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Blackstone Group Inc.
On June 7, 2021, QTS Realty announced that it had entered into a definitive merger agreement with Blackstone. Under the terms of the deal, stockholders will receive $78.00 per share in cash for each share of QTS Realty common stock they own.
The investigation concerns whether the QTS Realty board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for QTS Realty shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth. Also, one Wall Street analyst has an $85.00 price target on the stock.
If you are a shareholder of QTS Realty and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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Company Codes: NYSE:QTS
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