Ademi LLP is investigating Payoneer Global Inc. for possible breaches of fiduciary duty in its recently announced transaction with Nuvei. Payoneer stockholders will receive $7.40 per share in cash, representing a total transaction equity value of approximately $2.75 billion. The investigation focuses on whether the Payoneer board of directors is fulfilling its fiduciary duties to all shareholders, particularly given that insiders will receive substantial benefits as part of change of control arrangements. The transaction agreement imposes a significant penalty if Payoneer accepts a competing bid, which the firm says unreasonably limits competing transactions.
Payoneer Global IncInvestigation into fiduciary duties and potential undervaluation in $2.75B acquisition deal