PHILADELPHIA, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) (“Consolidated Communications”) on behalf of the company’s shareholders to determine the fairness of the company’s proposed privatization agreement.
On October 16, 2023, Consolidated Communications announced that it had agreed to a privatization buyout agreement at $4.70 per share in cash – a discount of approximately 15% to the company’s 52-week high price of $5.55 per share. Following the closing of the proposed transaction, Consolidated Communications shareholders will be cashed out of their investment position and the company’s shares will no longer be publicly traded.
The investigation seeks to determine whether $4.70 per share provides sufficient consideration for CNSL shares, and whether Consolidated Communications’ directors have violated the securities laws or breached their fiduciary duties in agreeing to sell the company at $4.70 per share.
Consolidated Communications shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/consolidated-communications/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
