Cases
Carbonite, Inc.
Merger
Overview
Overview
- Date:
- 11/11/2019
- Case Caption:
- Four Rivers Partners, LP v. Carbonite, Inc.
- Stock Symbol:
- CARB
- Company Name - Buyer:
- Open Text Corporation
- Stock Symbol - Buyer:
- OTEX
- Status:
- Filed
- Merger Announcement Date:
- 11/11/2019
- Filing Date:
- 12/20/2019
- Court:
- Court of Chancery of the State of Delaware
On November 11, 2019, Carbonite announced that it had signed an agreement to be acquired by OpenText for $23 per share in cash, or a total of approximately $1.42 billion.
Bragar Eagel & Squire is concerned that Carbonite’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Indeed, Carbonite’s stock has recently traded well above the $23 per share deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Carbonite stockholders.
Bragar Eagel & Squire is concerned that Carbonite’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Indeed, Carbonite’s stock has recently traded well above the $23 per share deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Carbonite stockholders.