An investigation on behalf of investors of Avista Corp (NYSE:AVA) in connection with the proposed takeover was announced and NYSE:AVA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/09/2017 -- The takeover of Avista Corp is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold NYSE:AVA shares, concerning whether the takeover of Avista. by Hydro One Limited is unfair.
Investors who purchased shares of Avista Corp (NYSE:AVA) and currently hold any of those NYSE:AVA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Avista Corp breached their fiduciary duties owed to NYSE:AVA investors in connection with the proposed acquisition.
On July 19, 2017, Hydro One Limited (TSX:H) and Avista Corp (NYSE:AVA) jointly announced a merger agreement under which Hydro One will acquire Avista Corp (NYSE:AVA) for C$67 (US$53) per share in a C$6.7 billion (US$5.3 billion) all-cash transaction.
However, the investigation concerns whether the offer is unfair to NYSE:AVA stockholders. More specifically, the investigation concerns whether the Avista Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On August 8, 2017, NYSE:AVA shares closed at $52.39 per share.
Those who are current investors in Avista Corp shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com