BALA CYNWYD, Pa., May 22, 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.
Greenhill & Co., Inc. (NYSE – GHL)
Under the terms of the agreement, Greenhill will be acquired by Mizuho Financial Group, Inc. (NYSE - MFG) in an all-cash transaction at $15 per share, reflecting an enterprise value of approximately $550 million, including assumed debt. The investigation concerns whether the Greenhill Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Mizuho Financial Group is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/greenhill-co-inc-nyse-ghl/.
PDC Energy, Inc. (Nasdaq – PDCE)
Under the terms of the agreement, PDC Energy will be acquired by Chevron Corporation (NYSE - CVX) in an all-stock transaction valued at $6.3 billion, or $72 per share. Based on Chevron’s closing price on May 19, 2023, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. The total enterprise value, including debt, of the transaction is $7.6 billion. The investigation concerns whether the PDC Energy Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Chevron is paying too little for the Company. For example, the deal consideration is below the 52-week high of $89.22 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/pdc-energy-inc-nasdaq-pdce/.
Urstadt Biddle Properties Inc. (NYSE – UBA and UBP)
Under the terms of the Merger Agreement, Urstadt Biddle’s Class A Common (UBA) and Common (UBP) stockholders will receive 0.347 of a newly-issued REG share for each UBA or UBP share they own, representing a total consideration of approximately $20.40 per share based on Regency’s closing share price on May 17, 2023 in a deal valued at approximately $1.4 billion, including the assumption of debt and preferred stock. Upon closing, Regency and Urstadt Biddle shareholders will own approximately 93% and 7% of the combined company, respectively. The investigation concerns whether the Urstadt Biddle Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Regency is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/urstadt-biddle-properties-inc-nyse-uba-ubp/.
Cvent Holding Corp. (Nasdaq - CVT)
Under the terms of the agreement, Cvent will be acquired by an affiliate of private equity funds managed by Blackstone (“Blackstone”) in a transaction with an enterprise value of approximately $4.6 billion. Under the terms of the agreement, Cvent stockholders will receive $8.50 per share in cash for each share of the Company they own. The investigation concerns whether the Cvent Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the Blackstone is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/cvent-holding-corp-nasdaq-cvt/ .
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.
