NEW YORK, June 3, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) has commenced an investigation into the fairness of the sale of Talen Energy Corporation ("Talen") (NYSE: TLN) to Riverstone Holdings LLC ("Riverstone").
Under the terms of the definitive merger agreement with Riverstone, announced on June 3, 2016, Talen stockholders are offered $14.00 per share in cash, in a transaction worth approximately $5.2 billion.
Our investigation concerns whether the Talen board of directors has fulfilled its fiduciary duties to shareholders, including adequately pursuing alternatives to the acquisition and obtaining the best price possible for Talen shareholders, especially given that the price target for Talen shares, according to at least one Wall Street analyst is $15.00 per share, and that Riverstone is taking Talen private only a year after it started trading, and for 25% less than its initial trading price. The 52 week high for Talen stock is $20.25.
If you own Talen shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Tanya Korkhov, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
Attorney Advertising. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/harwood-feffer-llp-announces-investigation-of-talen-energy-corporation-300279457.html
SOURCE Harwood Feffer LLP