Enventis Corp (NASDAQ:ENVE) Investor Investigation Concerning Takeover By Consolidated Communications Holdings

If you purchased shares of Enventis Corp (NASDAQ:ENVE) and currently hold any of those NASDAQ:ENVE shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Enventis
Affected Securities: 
NASDAQ: ENVE

July 7, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Enventis Corp (NASDAQ:ENVE) shares, was announced concerning whether the takeover of Enventis Corp by Consolidated Communications Holdings for a value of approximately $16.50 per share is unfair to NASDAQ:ENVE stockholders.

The investigation by a law firm concerns whether certain officers and directors of Enventis Corp breached their fiduciary duties owed to NASDAQ:ENVE investors in connection with the proposed acquisition.

On June 30, 2014, Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) and Enventis Corp (NASDAQ:ENVE), formerly HickoryTech, announced that each of their respective Boards of Directors have approved an agreement for Enventis Corp (NASDAQ:ENVE) to merge with Consolidated Communications Holdings, Inc. Under the terms of the agreement, Enventis Corp shareholders will receive a fixed exchange ratio of 0.7402 shares of Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) common stock for each share of Enventis Corp (NASDAQ:ENVE) common stock they own. Based on the closing price of Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) on June 27, 2014, the consideration represents $16.50 per share for each Enventis Corp (NASDAQ:ENVE) share outstanding.

However, the investigation concerns whether the offer is unfair to NASDAQ:ENVE stockholders. More specifically, the investigation concerns whether the Enventis Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Enventis Corp reported that its annual Total Revenue rose from $162.25 million in 2010 to $189.20 million in 2013. Shares of Enventis Corp (NASDAQ:ENVE) grew from $6.65 per share in July 2010 to $14.94 per share in February 2014.

On July 2, 2014, NASDAQ:ENVE shares closed at $15.94 per share.