Ademi LLP is investigating Avanos (NYSE: WSR) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with American Industrial.
Avanos stockholders will receive $25.00 per share in an all-cash transaction valued at approximately $1.272 billion. Avanos insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Avanos by imposing a significant penalty if Avanos accepts a competing bid. We are investigating the conduct of the Avanos board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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