Blue Buffalo (BUFF) Alert: Johnson Fistel Investigates Proposed Sale of Blue Buffalo Pet Products, Inc.; Is $40.00 a Fair Price for Shareholders?

SAN DIEGO, Feb. 23, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Blue Buffalo Pet Products, Inc. ("Blue Buffalo") (NASDAQ: BUFF) breached their fiduciary duties in connection with the proposed sale of the Company to General Mills, Inc. ("General Mills") (NYSE: GIS). Blue Buffalo operates as a pet food company in the United States, Canada, Japan, and Mexico.

On February 23, 2018, Blue Buffalo announced that it had signed a definitive merger agreement with General Mills. Under the terms of the agreement, General Mills will acquire each share of outstanding common stock of Blue Buffalo in exchange for $40.00 in cash.

The investigation concerns whether the Blue Buffalo 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 Blue Buffalo shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given Company's projected revenue and earnings growth. Additionally, one Wall Street analyst has a $52.00 price target on the stock.

If you are a shareholder of Blue Buffalo and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP