We are investigating the fairness of the proposed sale of Instructure Holdings, Inc. (NYSE: INST) (“INST”) to KKR for $23.60 per share in cash. The sales price is substantially below the price targets for INST of virtually every single Wall Street analyst covering INST (source: TipRanks).
If you remain an INST shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On July 25, 2024, INST announced that it had agreed to be sold to KKR for $23.60 per share in cash.
Notably, according to TipRanks, the sales price is substantially below the price targets of virtually every single Wall Street analyst covering INST, including:
- $32.00 per share set by Ryan MacDonald at Needham
- $30.00 per share set by Brent Thill at Jefferies
- $30.00 per share set by Steve Enders at Citi
- $29.00 per share set by Joseph Vruwink at Robert W. Baird
- $28.00 per share set by Josh Baer at Morgan Stanley
Further, as of April 4, 2024, Thoma Bravo owned 83.6% of INST’s outstanding shares. According to the press release announcing the proposed sale, Thoma Bravo is expected to approve the transaction by written consent. Once the foregoing written consent has been delivered, no further action by other INST stockholders will be required to approve the transaction.
“We are investigating whether the INST Board of Directors acted in the best interests of INST shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to INST shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”