We are investigating the fairness of the proposed sale of DoubleVerify Holdings, Inc. (NYSE: DV) (“DoubleVerify”) to Nielsen Holdings (“Nielsen”), pursuant to which DoubleVerify shareholders will receive $13.60 per share in cash.
Notably, the $13.60 sale price is well below DoubleVerify’s 52-week high of $16.44 per share, which potentially indicates an opportunistic purchase below fair value.
Moreover, before the transaction was announced, several Wall Street analysts had price targets above the $13.60 sale price, including:
- Youssef Squali of Truist Financial ($16.00 price target)
- Maria Ripps of Canaccord Genuity ($16.00 price target)
- Brian Pitz of BMO Capital ($15.00 price target)
- Matthew Cost of Morgan Stanley ($14.00 price target)
- Andrew Marok of Raymond James ($14.00 price target)
(Source: TipRanks)
In addition, on Seeking Alpha, at least one shareholder has expressed concerns about the price, asserting, “I assume that the majority of shareholders will be against it; they bought the shares at prices higher than $13.60.”
If you remain a DoubleVerify shareholder and have concerns about the fairness of the proposed sale, you may contact our firm by completing and submitting the form below.
“We are investigating whether the DoubleVerify Board of Directors acted in the best interests of DoubleVerify shareholders in approving the sale,” said Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the cash consideration agreed upon is fair to DoubleVerify shareholders considering the company’s recent trading history, and whether all material information regarding the transaction has been fully disclosed. We encourage DoubleVerify stockholders to contact us if they have any concerns.”