ENVENTIS CORPORATION INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Eventis Corporation (ENVE) Over the Proposed Sale of the Company to Consolidated Communications Holdings Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Enventis Corp. (“Enventis” or the “Company”) (Nasdaq: ENVE) for potential breaches of fiduciary duties in connection with the sale of the Company to Consolidated Communications Holdings Inc. (“Consolidated Communications”) (Nasdaq: CNSL) in an all-stock deal valued at approximately $350 million. Consolidated Communications will acquire all of Enventis’ 13.8 million shares outstanding. Under the terms of the agreement, Enventis shareholders will receive approximately 0.7402 shares of Consolidated Communications for each share of Enventis common stock they own, or about $16.50 based on Consolidated Communication’s June 27th, 2014 close.
The investigation focuses on whether Enventis’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Enventis’ shareholders.
If you own common stock in Eventis and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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