Nexeo Investor Seeks Del. Share Appraisal After $2B Sale
Law360 (May 16, 2019, 8:22 PM EDT) -- A fund of Burford Capital Investment Management LLC sued in Delaware's Chancery Court Thursday for post-merger appraisal of its 5 million Nexeo Solutions Inc. shares, two months after the closing of Nexeo's $2 billion sale to Univar Inc.
Burford, which held the global chemical and plastics company's stock through BCIM Strategic Value Master Fund LP, said the $10.31 per share ultimately paid was marred by deal and director conflicts that allegedly favored controlling investors and fell 20% short of an offer from another potential buyer.
According to the complaint, the amount paid out for Nexeo — originally expected to total $11.65...
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