We are investigating the fairness of the proposed sale of Barnes Group, Inc. (NYSE: B) (“Barnes”) to Apollo Global Management (“Apollo”) for $47.50 per share in cash.
The sale price is below the “takeover price” of $55.00 per share that Wall Street analyst Christopher Glynn of Oppenheimer recently characterized as “reasonable” based on Barnes’ estimated 2025 EBITDA (source: StreetInsider.com), and below the price target for Barnes of $52.00 per share of Wall Street analyst Matt Summerville of D.A. Davidson (source: TipRanks).
If you remain a Barnes 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 October 7, 2024, Barnes announced that it had agreed to be sold to Apollo for $47.50 per share in cash.
Notably, the sale price is below the “takeover price” of $55.00 per share that Wall Street analyst Christopher Glynn of Oppenheimer recently characterized as “reasonable” based on Barnes’ estimated 2025 EBITDA (source: StreetInsider.com), and below the price target for Barnes of $52.00 per share of Wall Street analyst Matt Summerville of D.A. Davidson (source: TipRanks).
“We are investigating whether the Barnes Board of Directors acted in the best interests of Barnes shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Barnes shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”