A lawsuit was filed for investors in shares of Talen Energy Corp (NYSE:TLN) in connection with the proposed takeover was announced and NYSE:TLN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/29/2016 -- The Shareholders Foundation announced that an investor who currently holds shares of Talen Energy Corp (NYSE:TLN), filed a lawsuit in effort to halt the proposed takeover of Talen Energy Corp. by Riverstone Holdings LLC for $14.00 per share.
Investors who purchased shares of Talen Energy Corp (NYSE:TLN) and currently hold any of those NYSE:TLN shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:TLN stockholders by agreeing to sell Talen Energy Corp. too cheaply via an unfair process to Riverstone Holdings LLC
On June 3, 2016, Talen Energy Corp (NYSE:TLN) announced that it has entered into a merger agreement with affiliates of private investment firm Riverstone Holdings LLC. Under terms of the merger agreement, all outstanding shares of Talen Energy Corp (NYSE:TLN)common stock not currently owned by Riverstone affiliated entities will be acquired for $14.00 per share in cash.
However, plaintiff claims that the proposed consideration NYSE:TLN shareholders will receive is grossly inadequate and undervalues Talen Energy Corp. Indeed, at least one analyst has set the high target price for NYSE:TLN shares at $15.00 per share.
In addition, the plaintiff alleges that the process is also unfair to Talen Energy Corp. stockholders. Indeed, Riverstone and its affiliates have already agreed to vote their 35 percent stake in favor of the proposed transaction.
On August 26, 2016, NYSE:TLN shares closed at $13.72 per share.
Those who are current investors in Talen Energy Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego