SAN DIEGO, Jan. 28, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Versum Materials, Inc. (NYSE: VSM) ("Versum") breached their fiduciary duties in connection with the proposed sale of the Company to Entegris, Inc. (NASDAQ: ENTG) ("Entegris").
On January 28, 2019, Versum announced that it had signed a definitive merger agreement with Entegris. Under the terms of the agreement, Versum stockholders will receive 1.120 shares of Entegris for each existing Versum share. Based on Friday's stock closing prices, that values Versum shares at $35.08. However, shareholders will be subject to the future price fluctuation of Entegris' stock price.
The investigation concerns whether the Versum board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Versum shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $47 price target on the stock, The 52-week high for Versum was $41.35.
If you are a shareholder of Versum and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP