NEW YORK, July 1, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Enventis Corporation ("Enventis" or the "Company") (NASDAQ: ENVE) relating to the proposed buyout of the Company by Consolidated Communications Holdings Inc. ("Consolidated Communications").
On June 30, 2014, Enventis and Consolidated Communications announced the signing of a definitive agreement pursuant to which Consolidated Communications will acquire Enventis in a merger valued at approximately $350 million. Under the terms of the transaction, shareholders of Enventis are anticipated to receive 0.7402 shares of Consolidated Communications common stock for each share of Enventis common stock they own, or approximately $16.50 based on Consolidated Communications' June 27, 2014 close.
The firm's investigation seeks to determine, among other things, whether the Company's board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, whether Consolidated Communications is underpaying for Enventis shares, and whether there are any conflicts of interest on the part of the Company, Consolidated Communications and/or their financial advisors.
If you are a shareholder of Enventis and would like additional information as to how the acquisition may affect your rights as a shareholder, please call us at no cost at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC