Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Kraton Corporation (Kraton) breached their fiduciary duties in connection with the proposed sale of the company to DL Chemical (DL Chemical).

On September 27, 2021, Kraton announced that it had agreed to be acquired by DL Chemical in an all-cash deal with an enterprise value of about $2.5 billion. Under the terms of the agreement, Kraton shareholders will receive $46.50 in cash for each share owned.

The investigation concerns whether the Kraton board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Kraton shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst had a $60.00 price target on the stock.