Ademi LLP is investigating Berry (NYSE: BERY) for possible breaches of fiduciary duty and other violations of law in its transaction with Amcor.
In the transaction, the stockholders of Berry will receive only 7.25 Amcor shares for each Berry share held, placing a value on Berry’s common stock at $73.59 per share.
The transaction agreement unreasonably limits competing transactions for Berry by imposing a significant penalty if Berry accepts a competing bid. Berry insiders will receive substantial benefits as part of change of control arrangements.