NEW YORK, June 9, 2016 /PRNewswire/ -- Harwood Feffer
LLP (www.hfesq.com) has commenced an investigation into the
fairness of the sale of Talen Energy Corporation ("Talen") (NYSE:
TLN) to Riverstone Holdings LLC ("Riverstone").
Under the terms of the definitive merger agreement with
Riverstone, announced on June 3,
2016, Talen stockholders are offered $14.00 per share in cash, in a transaction worth
approximately $5.2 billion.
Our investigation concerns whether the $14.00 per share in cash consideration offered to
Talen's shareholders undervalues Talen, especially given that the
price target for Talen shares, according to at least one Wall
Street analyst is $15.00 per share,
and that Riverstone is taking Talen private only a year after it
started trading, and for 25% less than its initial trading price.
The 52 week high for Talen stock is $20.25. It has been noted in the financial press
that the merger's potential profit "is very small, assuming the
deal closes as advertised."
We are also investigating whether Talen's board of directors has
properly discharged its fiduciary duties to shareholders, including
adequately pursuing alternatives to the acquisition and obtaining
the best price possible for Talen shareholders.
If you own Talen shares and wish to discuss this matter with us,
or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Tanya Korkhov, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: tkorkhov@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the
firm.
Attorney Advertising. The law firm responsible for this
advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results
do not guarantee or predict a similar outcome with respect to any
future matter.
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SOURCE Harwood Feffer LLP
