An investigation on behalf of investors of The Stars Group Inc. (NASDAQ: TSG) in connection with the proposed takeover was announced and The Stars Group Inc. (NASDAQ: TSG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/24/2019 -- The takeover of The Stars Group Inc. is under investigation concerning whether it is unfair to NASDAQ: TSG stockholders.
Investors who purchased shares of The Stars Group Inc. (NASDAQ: TSG) and currently hold any of those NASDAQ: TSG shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of The Stars Group Inc. breached their fiduciary duties owed to NASDAQ: TSG investors in connection with the proposed acquisition.
Toronto, Canada based The Stars Group Inc. engages in online gaming and betting businesses primarily in Europe, Australia, and the Americas. On October 2, 2019, the Boards of Flutter Entertainment plc ("Flutter") (LSE: FLTR) and The Stars Group Inc. (NASDAQ: TSG; TSX: TSGI) announced that they have reached agreement on the terms of a recommended all-share combination to be implemented through an acquisition of The Stars Group Inc. by Flutter pursuant to a plan of arrangement under the Business Corporations Act. Under the terms of the Combination, The Stars Group Inc. Shareholders will be entitled to receive 0.2253 New Flutter Shares in exchange for each TSG Share. Based on a closing price of $85.62 per LSE: FLTR share on October 1, 2019, invesotrs in NASDAQ: TSG shares will receive a value of approximately $19.29 per share.
However, given that at least one analyst has set the high target price for NASDAQ: TSG shares at $28.00 per share, the investigation concerns whether the offer is unfair to The Stars Group Inc. (NASDAQ: TSG stockholders.
In addition, given that Flutter Entertainment plc has already entered into voting support agreements with the Directors of TSG, Caledonia (Private) Investments Pty Limited and ValueAct Holdings LP under which they have each agreed, subject to certain termination rights, to vote all of the TSG Shares held by them in favour of the Combination at a meeting of TSG's shareholders, which represents in total approximately 23.79 per cent. of the existing issued common shares of TSG, the investigation concerns whether the The Stars Group Inc. (NASDAQ: TSG 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.
Those who are current investors in The Stars Group Inc. (NASDAQ: TSG) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.