BALA CYNWYD, Penn., Dec. 11, 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.
Consolidated Communications Holdings, Inc. (Nasdaq - CNSL)
Under the terms of the agreement, Consolidated Communications will be acquired by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) and British Columbia Investment Management Corporation (“BCI,” and together with Searchlight, the “Buyers”) in an all-cash transaction with an enterprise value of approximately $3.1 billion, including the assumption of debt. Under the terms of the Agreement, Buyers will acquire all of the Consolidated common stock not already owned by Searchlight for $4.70 per share in cash. The investigation concerns whether the Consolidated Communications Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Buyers are paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/consolidated-communications-holdings-inc-nasdaq-cnsl/.
Cerevel Therapeutics Holdings, Inc. (Nasdaq – CERE)
Under the terms of the Merger Agreement, Cerevel will be acquired by AbbVie Inc. (NYSE - ABBV). Under the terms of the agreement, Cerevel stockholders will receive $45.00 in cash for each share of the Company’s stock for an equity value of approximately $8.7 billion. The investigation concerns whether the Cerevel Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether AbbVie is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/cerevel-therapeutics-holdings-inc-nasdaq-cere/.
ImmunoGen, Inc. (Nasdaq – IMGN)
Under the terms of the agreement, ImmunoGen will be acquired by AbbVie Inc. (NYSE - ABBV). AbbVie will acquire all outstanding shares of ImmunoGen for $31.26 per share in cash. The transaction values ImmunoGen at a total equity value of approximately $10.1 billion. The investigation concerns whether the ImmunoGen Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether AbbVie is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/immunogen-inc-nasdaq-imgn/.
Graphite Bio, Inc. (Nasdaq – GRPH)
Under the terms of the agreement, Graphite Bio will merge with LENZ Therapeutics in an all-stock transaction. Under the terms of the merger agreement, securityholders of LENZ Therapeutics will own approximately 65% of the combined company and securityholders of Graphite Bio will own approximately 35% of the combined company. The investigation concerns whether the Graphite Bio Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of the Company’s shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/graphite-bio-inc-nasdaq-grph/.
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