Ademi LLP is investigating Apogee (NASDAQ: APGE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with CRH.
Apogee shareholders will receive $135.11 per share in cash, valuing Apogee at approximately $10.9 billion in total equity value. Apogee insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Apogee by imposing a significant penalty if Apogee accepts a competing bid. We are investigating the conduct of the Apogee board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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