Ademi LLP is investigating whether the proposed acquisition of Ultralife (NASDAQ: ULBI) by EnerSys, provides fair value to Ultralife’s public shareholders and whether Ultralife’s Board adequately protected shareholder interests in negotiating and approving the transaction.
What Is Ademi LLP Investigating?
- The exchange ratio and whether it adequately reflects Ultralife’s value and future prospects;
- Substantial change-of-control benefits available to Ultralife insiders in connection with the transaction;
- Restrictions on competing transactions, including a significant termination penalty that may discourage another potential buyer from making a superior proposal; and
- The conduct of Ultralife’s Board of Directors in negotiating and approving the transaction and whether the Board fulfilled its duties to public shareholders.