The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of CH Energy Group, Inc. and other violations of state law by the board of directors of CH Energy Group relating to the proposed acquisition of the company by Fortis Inc. The firm's investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On February 21, 2012, Fortis announced that it had entered into an agreement providing for Fortis to acquire CH Energy Group for $1.5 billion. Under the terms of the merger agreement, CH Energy Group shareholders will receive $65.00 for each share of CH Energy Group common stock held. However, according to Yahoo! Finance, at least one analyst has set a high price target of $69.00 per share.
If you currently own shares of CH Energy Group and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions.
www.browerpiven.com |
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