Ademi LLP is investigating Enstar (Nasdaq: ESGR) for possible breaches of fiduciary duty and other violations of law in its transaction with Sixth Street.
Enstar stockholders will receive only $338.00 in cash per ordinary share, representing a total equity value of $5.1 billion. The transaction agreement unreasonably limits competing transactions for Enstar by imposing a significant penalty if Enstar accepts a competing bid. Enstar insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Enstar’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.