SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Enventis Corporation In Connection With The Proposed Sale Of The Company To Consolidated Communications Holdings Inc.
STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the board of directors of Enventis Corporation (“Enventis” or the “Company”) (NASDAQ: ENVE) relating to the proposed buyout of the Company by Consolidated Communications Holdings Inc. (“Consolidated Communications”).
On June 30, 2014, Enventis and Consolidated Communications announced the signing of a definitive agreement pursuant to which Consolidated Communications will acquire Enventis in a merger valued at approximately $350 million.
Under the terms of the transaction, shareholders of Enventis are anticipated to receive 0.7402 shares of Consolidated Communications common stock for each share of Enventis common stock they own, or approximately $16.50 based on Consolidated Communication’s June 27, 2014 close.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Consolidated Communications is underpaying for Enventis shares.
If you currently own common stock of Enventis and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.