Ademi LLP is investigating Enhabit (NYSE: EHAB) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Kinderhook Industries.
In the transaction, Enhabit stockholders will receive $13.80 per share in an all-cash transaction valued at approximately $1.1 billion. Enhabit insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Enhabit by imposing a significant penalty if Enhabit accepts a competing bid. We are investigating the conduct of the Enhabit board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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