By: ICN Bureau
Last updated : October 25, 2021 8:09 am
Bragar Eagel & Squire is concerned that Kraton’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.
Bragar Eagel & Squire, a nationally recognized stockholder rights law firm, reminds investors of its investigation into whether the officers or directors of Kraton Corporation breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by DL Chemical.
On September 27, 2021, Kraton announced that it had entered into an agreement to be acquired by DL Chemical in a transaction valued at approximately $2.5 billion. Pursuant to the merger agreement, Kraton stockholders will receive $46.50 in cash for each share of Kraton common stock owned. The deal is scheduled to close in the first half of 2022.
On October 21, 2021, Kraton released a Preliminary Proxy Statement recommending that stockholders vote in favor of the transaction. The stockholder vote date is yet to be determined.
Bragar Eagel & Squire is concerned that Kraton’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Kraton’s stockholders.