Ademi LLP is investigating Greenhill (NYSE: GHL) for possible breaches of fiduciary duty and other violations of law in its transaction with Mizuho.
Greenhill public stockholders are expected to receive only $15 per share, reflecting an enterprise value of approximately $550 million, including assumed debt. The transaction agreement unreasonably limits competing bids for Greenhill by imposing a significant penalty if Greenhill accepts a superior bid. Greenhill insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Greenhill’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Greenhill.