Inactive Instrument

CDK Global, Inc.

CDK

US12508E1010

CDK Alert: Monsey Firm of Wohl & Fruchter LLP Investigating Sale of CDK Global to Brookfield Business Partners

April 07, 2022 at 10:21 am EDT

MONSEY, N.Y., April 07, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of CDK Global, Inc. (ticker: CDK) (“CDK”) acted in the best interests of CDK shareholders in approving the sale of CDK to Brookfield Business Partners (“Brookfield”) for $54.87 per share in cash in a tender offer.

If you remain a CDK shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:

https://wohlfruchter.com/cases/cdk-global/

Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.

Why is there an investigation?
On April 7, 2022, CDK announced an agreement for Brookfield to purchase all of the outstanding shares of CDK for $54.87 per share in cash in a tender offer. The agreement has been approved by the CDK board.

Our investigation concerns whether CDK’s board acted in the best interests of CDK shareholders in approving the sale to Brookfield, including whether the acquisition price adequately compensates CDK shareholders, and whether all material information regarding the transaction has been fully disclosed.

In particular, according to an analysis of Wall Street CDK price targets in the last 90 days published on Seeking Alpha, CDK has an average target price of $56.83 per share, and a high target price of $65.00 per share, both of which are above the price that Brookfield has agreed to pay.

About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com

Source: Wohl & Fruchter LLP

2022 GlobeNewswire, Inc., source Press Releases

Latest news about CDK Global, Inc.

CDK Global, Inc. acquired an unknown interest in Computerized Vehicle Registration, Inc. from The Reynolds and Reynolds Company.	23-06-29	CI
E-emphasys Technologies, Inc. acquired CDK Global Heavy Equipment from CDK Global, Inc.	23-04-30	CI
CDK Global, Inc. and Vizalogix Partner to Offer Heavy Equipment Dealers Cutting Edge Technology with Tethr It Now	23-02-21	CI
CDK Global, Inc. Introduces New Modern Application Programming Interface Tools for Developers At NADA 2023	23-01-23	CI
CDK Global, Inc. Integrates Ford and Lincoln Vehicle Build Data into Advanced Vehicle Lookup API	22-12-20	CI
CDK Global, Inc. Chosen as Exclusive Digital Retailing and Preferred DMS Partner for Hyundai Auto Canada	22-12-15	CI
Transcript : CDK Global, Inc. - Special Call	22-10-10
CDK Global, Inc. Reports Earnings Results for the Full Year Ended June 30, 2022	22-09-16	CI
Transcript : CDK Global, Inc. - Special Call	22-09-07
CDK Global, Inc. Announces Management Changes	22-07-12	CI
CDK Global, Inc. Announces Chief Executive Officer Changes	22-07-12	CI
CDK Global, Inc. Announces Resignation of Eric Guerin as Chief Financial Officer on July 22, 2022	22-07-12	CI
Factbox-U.S. business leaders who lost their jobs over personal relationships	22-07-07	RE
CDK Global, Inc. Announces Resignation of Board and Committee Members	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from NASDAQ Composite Index	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P 400 Application Software (Sub Ind)	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P TMI Index	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P 400	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P Software & Services Select Industry Index	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P Composite 1500	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P 1000	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P Global BMI Index	22-07-06	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from S&P 400 Information Technology	22-07-06	CI
Brookfield Business Partners L.P. completed the acquisition of CDK Global, Inc..	22-07-04	CI
CDK Global, Inc.(NasdaqGS:CDK) dropped from Russell 1000 Growth-Defensive Index	22-06-24	CI

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Company Profile

CDK Global Inc. is a global provider of integrated information technology solutions to the automotive retail and adjacent industries. It operates through CDK North America segment. The Company is focused on enabling end-to-end automotive commerce, and provides solutions to dealers in more than 100 countries worldwide, serving approximately 30,000 retail locations and to automotive manufacturers. It offeres solutions automates and integrates all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles. It offers Dealer Management System (DMS) software solutions that are hosted enterprise resource planning applications tailored according to the requirements of the retail automotive industry. Its DMS products facilitate the sale of new and used vehicles, consumer financing, repair and maintenance services, and vehicle and parts inventory management.

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