CH Energy Group
Symbol:
CHG
Class Period:
Status:
Investigating
Documents:
Pomerantz is investigating claims on behalf of investors of CH Energy Group, Inc. (“CH Energy” or the “Company”) (NYSE: CHG) (ISIN: 12541M1027) concerning the proposed acquisition of CH Energy by Fortis Inc. (“Fortis”) in a cash transaction valued at $1.5 billion.
The investigation concerns whether the CH Energy directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, CH Energy shareholders would receive $65.00 in cash per share of CH Energy common stock. However, the price multiples are below that of comparable transactions and at least one analyst has set at target price of $69.00 per share.
CH Energy shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at rjarmon [at] pomlaw [dot] com or 212-661-1100 or 888-476-6529, ext. 314.
