WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Zayo Group Holdings, Inc. (NYSE: ZAYO) (“Zayo” or the “Company”) relating to the sale of the Company to affiliates of private investment firms Digital Colony Partners (“Digital Colony”) and EQT Infrastructure IV Fund (“EQT”). On May 8, 2019, the parties announced the signing of a definitive merger agreement pursuant to which Digital Colony and EQT will acquire Zayo in a merger in a deal worth $14.3 billion. As a result of the merger, Zayo shareholders are only anticipated to receive $35.00 per share in cash in exchange for each share of Zayo.
Andrews & Springer’s investigation so far has revealed that the consideration Zayo shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, the deal consideration is less than the $38 price target set by an analyst on January 29, 2019 at JP Morgan, one of Zayo’s financial advisors in the merger who concluded that $35 was adequate. The $35 per share consideration is also below the $45 per share price target set by analysts at Craig-Hallum on February 8, 2019. Our investigation has also revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest thus making the process and consideration unfair.
If you own shares of Zayo and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/zayo-group-class-action-investigation/ or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge and experience for the purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.