NEW
YORK, Oct. 23, 2023 /PRNewswire/
-- Shareholder rights law firm Julie & Holleman LLP is
investigating the proposed $4 billion
buyout of EngageSmart, Inc. (NYSE: ESMT) by private equity fund
Vista Equity Partners. Julie & Holleman is concerned about the
$23 per share price being offered as
well as potential conflicts of interest.
For a no-cost consult and to learn more about our investigation,
please click here or visit:
https://julieholleman.com/?p=3172
On October 23, 2023, EngageSmart
announced that it had entered into an agreement to be acquired by
Vista for $23 per share in cash.
However, while public shareholders stand to be cashed out, the
company's largest shareholder, investment firm General Atlantic,
will retain its interest in the company and participate in its
substantial upside.
Julie & Holleman, a nationally recognized firm that
exclusively focuses on shareholder matters, is concerned about the
price being offered as well as potential conflicts of interest.
Among other things, the average price target established by Wall
Street analysts is $24.50 per share,
and the high price target is $30 per
share—both far more than what the controlled company's board of
directors agreed to. Moreover, the fact that General Atlantic
controls the company and agreed to a deal which allows it to
continue holding a substantial stake raises serious questions of
fair dealing.
If you would like more information about Julie & Holleman's
investigation, or about the acquisition in general, please contact
W. Scott Holleman by email at
scott@julieholleman.com or by telephone at (929) 415-1020. You may
also visit the firm's website 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
www.julieholleman.com. This notice may constitute attorney
advertising.
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
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SOURCE Julie & Holleman LLP