Johnson Fistula Announces Investigation into Proposed Sale of
SAN DIEGO, Sept. 28, 2022 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP has opened an investigation into whether the directors of Covetrus, Inc. BLOSSOM breached their fiduciary duties in connection with the proposed sale of the company to Clayton, Dubilier & Rice (CD&R) and TPG Capital.
CD&R already owns 24% of Covetrus’ outstanding common stock. Pursuant to the companies’ merger agreement, announced on May 25, 2022, CD&R and TPG will acquire the remaining outstanding shares of Covetrus for $21 per share in cash.
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The investigation concerns whether the board of directors of Covetrus failed to fulfill its responsibilities to the company’s shareholders, including whether the board of directors appropriately pursued alternatives to acquisition and whether the board of directors obtained the best possible price for Covetrus common stock, especially given the company’s forecast sales and earnings growth.
If you are a shareholder of Covetrus and you believe the proposed acquisition price is too low, or you would like to learn more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. When emailing, please include your phone number.
About Johnson Fistula, 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 class action lawsuits involving shareholder derivatives and securities. Johnson Fistula seeks to recover losses incurred as a result of violations of federal securities laws. For more information about the firm and its attorneys, visit http://www.johnsonfistula.com. attorney advertising. Past results do not guarantee future results.
Johnson Fistula, LLP
jim baker, 619-814-4471
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