The Ademi Firm is investigating Intermex (Nasdaq: IMXI) for possible breaches of fiduciary duty and other violations of law in its transaction with Western Union.
In the tender offer transaction, shareholders of Intermex will receive $16.00 per share in cash, representing approximately $500 million in total equity and enterprise value.
Intermex insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Intermex by imposing a significant penalty if Intermex accepts a competing bid. We are investigating the conduct of the Intermex board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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