Ademi LLP is investigating whether the proposed $1.14-per-share acquisition of GoPro, Inc. ((NASDAQ: GPRO) by Starman Optical provides fair value to GoPro’s public shareholders and whether GoPro’s Board adequately protected shareholder interests in negotiating and approving the transaction. The $1.14 per share value is subject to potential adjustment based on GoPro’s net working capital at closing and GoPro shareholders will maintain ownership of approximately 10% of the outstanding shares.
What Is Ademi LLP Investigating?
- The $1.14-per-share acquisition price and whether it adequately reflects GoPro’s value and future prospects;
- Substantial change-of-control benefits available to GoPro insiders in connection with the transaction;
- Restrictions on competing transactions, including a significant termination penalty that may discourage another potential buyer from making a superior proposal; and
- The conduct of GoPro’s Board of Directors in negotiating and approving the transaction and whether the Board fulfilled its duties to public shareholders.