BALA CYNWYD, Pa., July 14, 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.
Denbury Inc. (NYSE – DEN)
Under the terms of the agreement, Denbury will be acquired by Exxon Mobil Corporation (NYSE - XOM). The acquisition is an all-stock transaction valued at $4.9 billion, or $89.45 per share based on ExxonMobil’s closing price on July 12, 2023. Under the terms of the agreement, Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share. The investigation concerns whether the Denbury Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Exxon Mobil is paying too little for the Company. For example, the deal consideration is below the 52-week high of $104.05 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/denbury-inc-nyse-den/.
Focus Financial Partners, Inc. (Nasdaq – FOCS)
Under the terms of the Merger Agreement, Focus will be acquired by affiliates of Clayton, Dubilier & Rice, LLC (“Clayton”). Focus shareholders will only $53.00 per share in cash. The investigation concerns whether the Focus Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Clayton paying less than full value for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/focus-financial-partners-inc-nasdaq-focs-2/.
Kaleyra, Inc. (NYSE – KLR)
Under the terms of the agreement, Kaleyra will be acquired by Tata Communications (“Tata”). Kaleyra shareholders will receive only $7.25 per share in cash. The investigation concerns whether the Kaleyra Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Tata paying less than full value for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/kaleyra-inc-nyse-klr/.
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