SAN DIEGO, Jan. 13, 2020 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Primo Water Corporation (NASDAQ:
PRMW) ("Primo") breached their fiduciary duties in connection with
the proposed sale of the Company to Cott Corporation ("Cott").
On January 13, 2020, Primo
announced that it had signed a definitive merger agreement with
Cott. Under the terms of the deal, shareholders of Primo will
receive $5.04 in cash and 0.6549
shares of Cott or $14.00 in cash or
1.0229 shares of Cott for each share of Primo they own, subject to
the proration procedures outlined in the merger
agreement.
The investigation concerns whether the Primo 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 Primo shares
of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has an $18.00
price target on the stock. The 52-week high for Primo was
$16.35.
If you are a shareholder of Primo and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation, please contact lead analyst
Jim Baker (jimb@johnsonfistel.com)
at 619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP