BALA CYNWYD, Pa., June 12, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

Chinook Therapeutics, Inc. (Nasdaq – KDNY)

Under the terms of the agreement, Chinook will be acquired by Novartis AG. Under the terms of the Agreement, Novartis will acquire Chinook for $40 per share in cash, or a total of $3.2 billion. In addition, Chinook shareholders will receive contingent value rights providing for payment of up to $4 per share upon the achievement of certain future regulatory milestones with respect to Chinook’s lead product candidate, atrasentan. The investigation concerns whether the Chinook Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Novartis AG is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/chinook-therapeutics-inc-nasdaq-kdny/ .

Franchise Group, Inc. (Nasdaq – FRG)

Under the terms of the Merger Agreement, Franchise Group will be acquired by members of the senior management team of Franchise Group in financial partnership with a consortium that includes B. Riley Financial, Inc. and Irradiant Partners. The buyers will acquire approximately 64% of the Company’s issued and outstanding common stock that the management team does not presently own or control. Franchise Group common stockholders, other than the referenced management team, will receive $30.00 in cash for each share of Franchise Group common stock they hold. The transaction has an enterprise value of approximately $2.6 billion, including the Company’s net debt and outstanding preferred stock. The investigation concerns whether the Franchise Group Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the buyers are paying too little for the Company. For example, the deal consideration is below the 52-week high of $44.25 for the Company’s shares.

Additional information can be found at https://www.brodskysmith.com/cases/franchise-group-inc-nasdaq-frg/.

CIRCOR International, Inc. (NYSE - CIR)

Under the terms of the agreement, CIRCOR will be acquired by investment funds managed by KKR. CIRCOR shareholders will receive $49.00 in cash for each share of CIRCOR common stock they own. The investigation concerns whether the CIRCOR Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether KKR is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/circor-international-inc-nyse-cir/.

Greenhill & Co., Inc. (NYSE – GHL)

Under the terms of the agreement, Greenhill will be acquired by Mizuho Financial Group, Inc. (NYSE - MFG) in an all-cash transaction at $15 per share, reflecting an enterprise value of approximately $550 million, including assumed debt. The investigation concerns whether the Greenhill Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Mizuho Financial Group is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/greenhill-co-inc-nyse-ghl/.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.