BALA CYNWYD, Pa., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (email@example.com) or Marc Ackerman (firstname.lastname@example.org) at 855-576-4847. There is no cost or financial obligation to you.
Pioneer Natural Resources (NYSE - PXD)
Under the terms of the agreement, Pioneer will be acquired by Exxon Mobil (NYSE – XOM). Holders of the Company’s shares will receive $253.00 in cash per share held. The deal has a market value of approximately $55.4 billion. The investigation concerns whether the Pioneer Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Exxon Mobil is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/pioneer-natural-resources-nyse-pxd/.
CapStar Financial Holdings, Inc. (Nasdaq – CSTR)
Under the terms of the Merger Agreement, CapStar will be acquired by Old National Bancorp (“Old National”) (Nasdaq – ONB) in an all-stock transaction. Each outstanding share of CapStar common stock will be converted into the right to receive 1.155 shares of Old National common stock, valuing the transaction at approximately $344.4 million, or $16.64 per share, based on Old National’s 30-day volume weighted average closing stock price ending October 25, 2023. The investigation concerns whether the CapStar Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Old National is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $18.52 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/capstar-financial-holdings-inc-nasdaq-cstr/.
Summit Materials (NYSE - SUM)
Under the terms of the agreement, Summit will merge with Argos North America Corp. (“Argos”). The companies will combine in a cash and stock transaction valued at $3.2 billion. Post close, Argos will have a 31% interest in Summit. The investigation concerns whether the Summit Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of Summit shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/summit-materials-nyse-sum/.
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