Ademi LLP is investigating Element Solutions for possible breaches of fiduciary duty in its recently announced transaction with Solstice Advanced Materials. Element Solutions shareholders will receive $10.00 in cash and 0.500 shares of Solstice common stock, representing implied consideration of approximately $50.10 per Element share, and are expected to own approximately 44% of the combined company upon closing. The investigation focuses on whether the Element Solutions board is fulfilling its fiduciary duties, noting that insiders will receive substantial benefits as part of change of control arrangements and that the transaction agreement imposes a significant penalty if Element Solutions accepts a competing bid.
Element Solutions IncAdemi LLP is investigating Element Solutions for possible breaches of fiduciary duty in its transaction with Solstice Advanced Materials, which could lead to legal challenges or deal disruption.
Solstice Advanced Materials, Inc