BALA CYNWYD, Pa., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Pioneer Natural Resources (NYSE - PXD)
Under the terms of the agreement, Pioneer will be acquired by Exxon Mobil (NYSE – XOM). Holders of the Company’s shares will receive $253.00 in cash per share held. The deal has a market value of approximately $55.4 billion. The investigation concerns whether the Pioneer Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Exxon Mobil is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/pioneer-natural-resources-nyse-pxd/.
CapStar Financial Holdings, Inc. (Nasdaq – CSTR)
Under the terms of the Merger Agreement, CapStar will be acquired by Old National Bancorp (“Old National”) (Nasdaq – ONB) in an all-stock transaction. Each outstanding share of CapStar common stock will be converted into the right to receive 1.155 shares of Old National common stock, valuing the transaction at approximately $344.4 million, or $16.64 per share, based on Old National’s 30-day volume weighted average closing stock price ending October 25, 2023. The investigation concerns whether the CapStar Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Old National is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $18.52 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/capstar-financial-holdings-inc-nasdaq-cstr/.
Summit Materials (NYSE - SUM)
Under the terms of the agreement, Summit will merge with Argos North America Corp. (“Argos”). The companies will combine in a cash and stock transaction valued at $3.2 billion. Post close, Argos will have a 31% interest in Summit. The investigation concerns whether the Summit Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of Summit shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/summit-materials-nyse-sum/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
