Ademi LLP is investigating Atkore (NYSE: ATKR) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Prysmian.
Atkore shareholders will receive $95.00 per share in an all-cash transaction valued at approximately $3.8 billion in enterprise value. Atkore insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Atkore by imposing a significant penalty if Atkore accepts a competing bid. We are investigating the conduct of the Atkore board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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