Ademi & Fruchter LLP is investigating Global Blue (NYSE: GB) for possible breaches of fiduciary duty and other violations of law in its transaction with Shift4.
In the tender offer transaction, Global Blue stockholders will receive only $7.50 per common share, through a tender offer and a subsequent statutory merger. Shift4 intends to acquire Global Blue’s Series A Preferred shares at $10.00 per preferred share and Series B Preferred shares at $11.81 per preferred share. Global Blue insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Global Blue by imposing a significant penalty if Global Blue accepts a competing bid. We are investigating the conduct of Global Blue’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.