Ademi LLP is investigating Weber (NYSE: WEBR) for possible breaches of fiduciary duty and other violations of law in its transaction with BDT.
Ademi LLP alleges Weber’s financial outlook and prospects are excellent and yet Weber shareholders are expected to receive only $8.05 per share of Class A common stock of Weber, which implies a total enterprise value of $3.7 billion for Weber. The transaction agreement unreasonably limits competing bids for Weber by imposing a significant penalty if Weber accepts a superior bid. Weber insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Weber’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Weber.