MONSEY, N.Y., July 29, 2024 (GLOBE NEWSWIRE) — The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Enstar Group Limited (Nasdaq: ESGR) (“Enstar”) to Sixth Street and other institutional investors for $338.00 per share in cash. The sales price is below Enstar’s prior closing price of $348.31 per share on July 26, 2024.
If you remain an Enstar shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On July 29, 2024, Enstar announced that it had agreed to be sold to Sixth Street and other institutional investors for $338.00 per share in cash. According to a Form 8-K filed on November 13, 2023, Sixth Street already holds a 4.7% interest in Enstar after acquiring shares from another Enstar shareholder in a private transaction.
Notably, the sales price is below Enstar’s prior closing price of $348.31 per share on July 26, 2024.
Commenting on the transaction, Wilcox Research observed on SeekingAlpha that the deal is a “takeunder,” and called the board’s decision to unanimously recommend approval of the sale as “bizarre.”
“We are investigating whether the Enstar Board of Directors acted in the best interests of Enstar shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Enstar shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
