Ademi LLP is investigating Kellanova (NYSE: K) for possible breaches of fiduciary duty and other violations of law in its transaction with Mars.
Kellanova stockholders will receive only $83.50 per share. The transaction agreement unreasonably limits competing transactions for Kellanova by imposing a significant penalty if Kellanova accepts a competing bid. Kellanova insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Kellanova’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.