HOSTESS BRANDS, INC. MILWAUKEE, Sept. 11, 2023 /PRNewswire/ -- Ademi LLP is investigating Hostess Brands, Inc. (NASDAQ: TWNK) for possible breaches of fiduciary duty and other violations of law in its transaction with J. M. Smucker.
Click here to learn how to join the action https://www.ademilaw.com/case/hostess-brands-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Hostess stockholders are expected to receive only $34.25 per share, consisting of $30.00 of cash and .03002 of a share of J. M. Smucker's common stock (having a value of $4.25 based on the closing price of J. M. Smucker's common stock on Friday, September 8, 2023), representing a total enterprise value of approximately $5.6 billion, which includes approximately $900 million of net debt. The transaction agreement unreasonably limits competing transactions for Hostess by imposing a significant penalty if Hostess accepts a competing bid. Hostess insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Hostess' board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Hostess common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/hostess-brands-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP
