Ademi LLP is investigating Bowhead (NYSE: BOW) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with American Family.
Bowhead shareholders will receive $34.00 per share in an all-cash transaction valuing Bowhead at approximately $1.2 billion. Bowhead insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Bowhead by imposing a significant penalty if Bowhead accepts a competing bid. We are investigating the conduct of the Bowhead board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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