Ademi LLP is investigating W. R. Grace (NYSE: GRA) for possible breaches of fiduciary duty and other violations of law in its transaction with Standard Industries Holdings.
Ademi LLP alleges W. R. Grace’s financial outlook is excellent and yet W. R. Grace shareholders will receive only $70.00 per share in cash. The merger agreement unreasonably limits competing bids for W. R. Grace by prohibiting solicitation of further bids, and imposing a termination penalty if W. R. Grace accepts a superior bid. W. R. Grace insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of W. R. Grace’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 W. R. Grace.