Here’s what you should know:
1. Anirudh Modi filed a class action complaint in an attempt to undo the sale. Envision shareholders will receive $46 per share if the acquisition closes.
2. Envision was trading at $51 per share after the deal was announced and have been trading at $77 per share within the last seven months, Mr. Modi claimed.
3. He said the $46 per share is too small an amount for Envision shareholders to accept.
4. In the lawsuit, he said, “Envision’s future success is extremely likely, given the consistent positive financial results it has posted over the past several quarters. Obviously, the opportunity to invest in such a company on the rise is a great coup for KKR, however it undercuts the investment of plaintiff and all other public stockholders.”
5. Neither company responded to the suit in court, nor did they comment on the matter to the Tennessean.
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