PR Newswire
NEW YORK, Oct. 23, 2023
NEW YORK, Oct. 23, 2023 /PRNewswire/ -- Julie & Holleman LLP, a nationally recognized shareholder rights law firm, is investigating the proposed $4.70 per share acquisition of Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) by the company's largest shareholder, private equity firm Searchlight Capital. The firm is concerned about the price being offered as well as potential conflicts of interest.
For a free consultation and to learn more about our investigation, click here or visit: https://julieholleman.com/?p=3165
Consolidated Communications has established itself as a leader in delivering the most reliable fiber communications solutions, and its position promises a strong growth trajectory. In April of 2023, the company received an acquisition proposal from Searchlight, which owns approximately 34% of Consolidated's stock.
On October 16, 2023, Consolidated announced that it had entered into an agreement for Searchlight to acquire all the shares it doesn't already own for $4.70 per share. This is well below the company's $5.50 per share 52-week high.
Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars for shareholders, is concerned not only about the inadequate deal price, but also about conflicts of interest. Specifically, Searchlight has used its significant stake in the company to secure two seats on Consolidated's board of directors and to gain access to insider information. Searchlight may have misused this leverage to secure the rest of the company and exclude public shareholders from the company's future upside.
If you would like more information about Julie & Holleman's investigation, please contact W. Scott Holleman at [email protected] or (929) 415-1020, or submit your contact information by clicking here.
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising. Past results do not guarantee future outcomes.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
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SOURCE Julie & Holleman LLP
