MILWAUKEE--(BUSINESS WIRE)--Ademi LLP is investigating Penns Woods (NASDAQ: PWOD) for possible breaches of fiduciary duty and other violations of law in its transaction with Northwest.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, each outstanding share of Penns Woods common stock will be exchanged for 2.385 shares of Northwest common stock. Based on Northwest's closing stock price of $14.44 as of December 16, 2024, the transaction consideration is valued at $34.44 for each share of Penns Woods. Penns Woods insiders will receive substantial benefits as part of change of control arrangements. Any unexercised stock options of Penns Woods will be canceled in exchange for a cash payment at the spread value over the exercise price.
The transaction agreement unreasonably limits competing transactions for Penns Woods by imposing a significant penalty if Penns Woods accepts a competing bid. We are investigating the conduct of Penns Woods’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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.
