SAN DIEGO, Oct. 15, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of SendGrid, Inc. ("SendGrid")
(NYSE: SEND) breached their fiduciary duties in connection with the
proposed sale of the Company to Twilio Inc. ("Twilio").
On October 15, 2018, SendGrid
announced that it had signed a definitive merger agreement with
Twilio. Under the terms of the transaction, SendGrid shareholders
will receive 0.485 shares of Twilio Class A common stock for each
share of SendGrid stock they own, representing a per-share price
for SendGrid stock of $36.92 based on
Twilio's closing price on October 15,
2018. However, shareholders will be subject to the future
price fluctuation of Twilio's stock price.
The investigation concerns whether the SendGrid board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for SendGrid
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $45.00
price target on the stock. Additionally, the Company has over
$180 million in cash. The 52-week
high for SendGrid was $38.66.
If you are a shareholder of SendGrid and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
Additionally, you can [click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is
a nationally recognized shareholder rights law firm with offices in
California, New York, and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit https://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action]
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SOURCE Johnson Fistel, LLP