BALA CYNWYD, Pa., Oct. 05, 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.
SP® Plus Corporation (Nasdaq - SP)
Under the terms of the Merger Agreement, SP+ will be acquired by Metropolis Technologies, Inc. (“Metropolis”) for $54.00 per share in cash for each share of SP+ held. The deal has an aggregate enterprise value of approximately $1.5 billion. The investigation concerns whether the SP+ Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Metropolis is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/sp-plus-corporation-nasdaq-sp/.
Orchard Therapeutics plc (Nasdaq - ORTX)
Under the terms of the agreement, Orchard will be acquired by Kyowa Kirin Co., Ltd. (“Kyowa Kirin”) for $16.00 per American Depositary Share (ADS) in cash (approximately $387.4 million), under which Orchard shareholders will hold an additional contingent value right (“CVR”) of $1.00 per ADS. The investigation concerns whether the Orchard Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Kyowa Kirin is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/orchard-therapeutics-plc-nasdaq-ortx/.
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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