Several law firms have announced they are investigating the sale of Midas Inc. to TBC Corp. for company shareholders.
As part of the $310 million purchase
, TBC said it will pay Midas shareholders $11.50 in cash for each share of Midas stock owned. The investigations center on whether MDS shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Midas stock, and whether Midas’ board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.
Law firms that have launched investigations include: The Briscoe Law Firm; Powers Taylor; Brodsky & Smith; and Ryan & Maniskas.