Ademi LLP is investigating Daseke (NASDAQ: DSKE) for possible breaches of fiduciary duty and other violations of law in its transaction with TFI International.
In the transaction, Daseke stockholders will receive only $8.30 per share in an all-cash transaction that values Daseke at an enterprise value of approximately $1.1 billion. The transaction agreement unreasonably limits competing transactions for Daseke by imposing a significant penalty if Daseke accepts a competing bid. Daseke insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Daseke’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.