BALA CYNWYD, Pa., Oct. 23, 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.
EngageSmart, Inc. (NYSE – ESMT)
Under the terms of the agreement, EngageSmart will be acquired by an affiliate of Vista Equity Partners (“Vista”), in an all-cash transaction valued at approximately $4.0 billion. EngageSmart stockholders will receive $23.00 per share in cash upon completion of the proposed transaction. The investigation concerns whether the EngageSmart Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Vista is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/engagesmart-inc-nyse-esmt/.
Hess Corporation (NYSE – HES)
Under the terms of the Merger Agreement, Hess will be acquired by Chevron Corporation (“Chevron”) (NYSE – CVX”), in an all-stock transaction valued at approximately $53 billion. Hess stockholders will receive 1.0250 shares of Chevron stock for each share of Hess stock held, equating to $171.00 per share based on Chevron’s closing price on October 20, 2023. The investigation concerns whether the Hess Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Chevron is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/hess-corporation-nyse-hes/.
Textainer Group Holdings Limited (NYSE – TGH)
Under the terms of the agreement, Textainer will be acquired by Stonepeak. Textainer common shareholders will receive $50.00 per share in cash, with the total value of the common shares equaling approximately $2.1 billion. The investigation concerns whether the Textainer Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Stonepeak is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/textainer-group-holdings-limited-nyse-tgh/.
INVO Bioscience, Inc. (Nasdaq – INVO)
Under the terms of the Merger Agreement, INVO will merge with NAYA Biosciences Inc. (“NAYA”), in an all-stock transaction. NAYA shareholders will receive 7.3333 shares of INVO for each share of NAYA held. At closing, INVO and NAYA shareholders will own approximately 12% and 88%, respectively, of the combined company. The investigation concerns whether the INVO Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company’s shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/invo-bioscience-inc-nasdaq-invo/.
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