Ademi LLP is investigating Peakstone (NYSE: PKST) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Brookfield Asset Management.
In the transaction, Peakstone stockholders will receive $21.00 per share in cash, representing a total enterprise value of approximately $1.2 billion, according to a press release statement. Peakstone insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Peakstone by imposing a significant penalty if Peakstone accepts a competing bid. We are investigating the conduct of the Peakstone board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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