NEW
YORK, Oct. 26, 2023 /PRNewswire/ -- Julie
& Holleman LLP, a nationally recognized shareholder rights
law firm, is investigating the proposed $4.70 per share sale of Consolidated
Communications Holdings, Inc. (Nasdaq: CNSL) to affiliates of
Searchlight Capital and British Columbia Investment Management
Corporation. The firm has already uncovered potential conflicts of
interest and believes the deal price may be unfair to
Consolidated's minority shareholders.
For a free consultation and to learn about our investigation,
click here or visit: https://julieholleman.com/?p=3165
Consolidated is a leader in delivering fiber communications
solutions, and its position promises a strong growth trajectory.
Recognizing this upside, Searchlight, which owns approximately 34%
of the company's stock, proposed to buy the company in April of
2023.
On October 16, 2023, Consolidated
announced that Searchlight reached a deal to acquire the remaining
shares for $4.70 per share.
Julie & Holleman, whose attorneys have helped secure
hundreds of millions of dollars for shareholders, is concerned
about potential conflicts arising from the fact that Consolidated's
largest shareholder wants to seize control of the rest of the
company. In the past, Searchlight has used its significant stake in
the company to secure two seats on Consolidated's board of
directors and to gain access to insider information. Searchlight
may have used this leverage to buyout the rest of the company at a
steep discount. Indeed, the $4.70 per
share deal price is well below the company's $5.50 per share 52-week high, and even less than
the $8 per share trading prices from
barely a year ago.
If you would like more information about our investigation,
please contact W. Scott Holleman at
scott@julieholleman.com or (929) 415-1020, or submit your
information by clicking here.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions,
and corporate investigations. The firm's attorneys litigate in
state and federal courts across the nation and have helped secure
hundreds of millions of dollars for aggrieved companies and their
shareholders. For more information about the firm, please visit
https://www.julieholleman.com/. This notice may constitute attorney
advertising. Past results do not guarantee future outcomes.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/consolidated-communications-merger-alert-is-4-70-fair-shareholders-seeking-more-money-should-contact-julie--holleman-regarding-potential-claims-301968224.html
SOURCE Julie & Holleman LLP