BALA CYNWYD, Pa., Dec. 09, 2024 (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.
Pactiv Evergreen Inc. (Nasdaq – PTVE)
Under the terms of the agreement, Pactiv will be acquired by Novolex for $18.00 per share in an all-cash transaction valued at $6.7 billion, inclusive of Pactiv’s net debt as of September 30, 2024. The investigation concerns whether the Pactiv Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal offers fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/pactiv-evergreen-inc-nasdaq-ptve/.
Enterprise Bancorp, Inc. (Nasdaq Global Select Market – EBTC)
Under the terms of the Merger Agreement, Enterprise will be acquired by Independent Bank Corp. (Nasdaq Global Select Market – INDB) (“Independent”), parent of Rockland Trust Company (“Rockland Trust”). Enterprise will merge into Independent and Enterprise Bank will merge into Rockland Trust in a cash and stock transaction for total consideration valued at approximately $562 million in aggregate, or $45.06 per share based on Independent’s closing price of $71.77 on December 6, 2024. Enterprise shareholders will receive 0.60 shares of Independent common stock and $2.00 in cash for each share of Enterprise common stock they hold. The investigation concerns whether the Enterprise Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal offers fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/enterprise-bancorp-inc-nasdaq-global-select-market-ebtc/.
The Interpublic Group of Companies, Inc. (NYSE – IPG)
Under the terms of the agreement, Interpublic will be acquired by Omnicom (NYSE – OMC). Interpublic shareholders will receive 0.344 Omnicom shares for each share of Interpublic common stock they own. Following the close of the transaction, Omnicom shareholders will own 60.6% of the combined company and Interpublic shareholders will own 39.4%, on a fully diluted basis. The investigation concerns whether the Interpublic 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/interpublic-group-companies-inc-nyse-ipg/.
Poseida Therapeutics, Inc. (Nasdaq – PSTX)
Under the terms of the agreement, Poseida will be acquired by Roche Holdings, Inc. (“Roche”) for $9.00 per share in cash at closing, plus a non-tradeable CVR to receive certain contingent payments of up to an aggregate of $4.00 per share in cash upon achievement of specific milestones. This corresponds to a total equity value of approximately $1.5 billion on a fully diluted basis. The investigation concerns whether the Poseida Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Roche is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/poseida-therapeutics-inc-nasdaq-pstx/.
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.
