Ademi LLP is investigating NCS Multistage (NASDAQ: NCSM) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Weatherford.
NCS Multistage stockholders will receive 0.554 shares of Weatherford common stock or a combination of 0.239 shares of Weatherford stock plus cash equal to 0.137 shares of Weatherford stock. On a blended basis, the deal equates to 0.463 shares of Weatherford common stock for each NCS Multistage share, with up to 19.99% payable in cash.
NCS Multistage insiders will receive substantial benefits as part of change of control arrangements
The transaction agreement unreasonably limits competing transactions for NCS Multistage by imposing a significant penalty if NCS Multistage accepts a competing bid. We are investigating the conduct of the NCS Multistage board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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