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Ademi LLP is investigating SPX FLOW (NYSE: FLOW), for possible breaches of fiduciary duty and other violations of law in its transaction Lone Star.

Ademi LLP alleges SPX FLOW’s financial outlook and prospects are excellent and yet SPX FLOW shareholders will receive only $86.50 per share an all-cash transaction valued at $3.8 billion, including the assumption of debt. The merger agreement unreasonably limits competing bids for SPX FLOW by prohibiting solicitation of further bids, and imposing a significant penalty if SPX FLOW accepts a superior bid. SPX FLOW insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of SPX FLOW’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 SPX FLOW.