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MILWAUKEE, Nov. 12, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating Craft Brew (NASDAQ:BREW) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Craft Brew to Anheuser-Busch.
Click here to learn how to join the action: http://ademilaw.com/case/craft-brew-alliance or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Craft Brew's financial outlook is improving and yet shareholders will receive only $16.50 per share, in cash. In 2016, Anheuser-Busch and Craft Brew entered into a long-term partnership that included an option for Anheuser-Busch to buy Craft Brew for up to $24.50. At the end of three years, if Anheuser-Busch had not agreed to make the purchase, it would pay Craft Brew $20 million.
Last summer, Anheuser-Busch opted out and paid $20 million. Craft Brew traded between $12 and $21 since the Anheuser-Busch deal in 2016 before plunging to less than $8 in the two-plus months since the acquisition failed to take place.
Anheuser-Busch is purchasing Craft Brew at a substantial discount as it already owns 31.2% of Craft Brew so even with the $20 million payment, it is saving tens of millions from what the 2016 deal would have required it to pay.
The merger agreement unreasonably limits competing bids for Craft Brew by prohibiting solicitation of further bids, and imposing a termination penalty if Craft Brew accepts a superior bid. Craft Brew insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Craft Brew'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 Craft Brew.
If you own common stock in Craft Brew and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://ademilaw.com/case/craft-brew-alliance.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
SOURCE Ademi & O'Reilly, LLP
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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