BALA CYNWYD, Pa., Feb. 23, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky or Marc Ackerman at 855-576-4847. There is no cost or financial obligation to you.
Tenneco Inc. (NYSE - TEN)
Tenneco will be acquired by affiliates of Apollo (NYSE - APO) for $20.00 per share in an all-cash transaction with an enterprise valuation of approximately $7.1 billion. The investigation concerns whether the Tenneco Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Apollo Funds is paying too little for the Company. For example, the deal consideration is below the 52-week high of $22.75 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/tenneco-inc-nyse-ten/ .
Tower Semiconductor (Nasdaq - TSEM)
Tower will be acquired by Intel Corporation (Nasdaq - INTC). Tower shareholders will receive $53.00 in cash for each share of Tower stock they hold. The investigation concerns whether the Tower Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Intel is paying too little for the Company.
Additional information: https://www.brodskysmith.com/cases/tower-semiconductor-nasdaq-tsem/ .
Preferred Apartment Communities, Inc. (NYSE - APTS)
Preferred Apartment Communities, Inc. (“PAC”) will be acquired by Blackstone Real Estate Income Trust, Inc. (“BREIT”) for $25.00 per share in an all-cash transaction valued at approximately $5.8 billion. The investigation concerns whether the PAC Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether BREIT is paying too little for the Company.
Additional information: https://www.brodskysmith.com/cases/preferred-apartment-communities-inc-nyse-apts/ .
Peak Bancorp, Inc. (OTC - IDFB)
Peak Bancorp will be acquired by BAWAG Group. Peak Bancorp shareholders will receive $12.05 per share of Peak Bancorp common stock they own. The investigation concerns whether the Peak Bancorp Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether BAWAG is paying too little for the Company.
Additional information: https://www.brodskysmith.com/cases/peak-bancorp-inc-otc-idfb/
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