The law firm of Brower Piven, A Professional Corporation, has commenced
an investigation into possible breaches of fiduciary duty to current
shareholders of CH Energy Group, Inc. and other violations of state law
by the board of directors of CH Energy Group relating to the proposed
acquisition of the company by Fortis Inc. The firm's investigation seeks
to determine, among other things, whether the board breached its
fiduciary duties by failing to maximize shareholder value.
On February 21, 2012, Fortis announced that it had entered into an
agreement providing for Fortis to acquire CH Energy Group for $1.5
billion. Under the terms of the merger agreement, CH Energy Group
shareholders will receive $65.00 for each share of CH Energy Group
common stock held. However, according to Yahoo! Finance, at least one
analyst has set a high price target of $69.00 per share.
If you currently own shares of CH Energy Group and would like to learn
more about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions.
www.browerpiven.com
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