ClubCorp (MYCC) Alert: J&W Investigates Proposed Sale of ClubCorp Holdings, Inc.; Is $17.12 a Fair Price?

SAN DIEGO, July 10, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of ClubCorp Holdings, Inc. (NYSE: MYCC) ("ClubCorp") breached their fiduciary duties in connection with the proposed sale of the Company to Apollo Global Management, LLC (NYSE: APO) ("Apollo"). ClubCorp is a membership-based leisure company that owns and operates private golf, country, business, sports, and alumni clubs in North America.

On July 10, 2017, ClubCorp announced it had signed a definitive merger agreement with Apollo. Under the terms of the agreement, Apollo will acquire all outstanding shares of ClubCorp common stock for $17.12 per share in cash.

The investigation concerns whether the ClubCorp board failed to satisfy its duties to the Company shareholders and whether Apollo is underpaying for the Company. The transaction may put too small a price on the Company and would result in a loss for many ClubCorp shareholders. The price being paid by Apollo is below an analyst price target of $27.00 per share. In 2015 the stock traded above $20.00.

If you are a shareholder of ClubCorp 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 ([email protected]) at 619-814-4471. If emailing, please include a phone number.

About Johnson & Weaver, LLP:
Johnson & Weaver, 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.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
[email protected]

SOURCE Johnson & Weaver, LLP

Related Links

http://johnsonandweaver.com