We are investigating whether the directors of Weber, Inc. (NYSE: WEBR) (“Weber”) acted in the best interests of Weber shareholders in approving the sale of Weber to its controlling shareholder, BDT Capital Partners (“BDT”), for $8.05 per share in cash for all outstanding Class A shares not already owned by BDT.
If you remain a Weber shareholder and have questions about your legal rights, you may contact our firm by submitting the form below to discuss your options at no charge.
Why is there an investigation?
On December 12, 2022, Weber announced that it had agreed to be acquired by BDT for $8.05 per share in cash for all outstanding Class A shares not already owned by BDT, its controlling shareholder. The agreement has been approved by the Weber board of directors (“Board”) upon the recommendation of a Special Committee of the Board.
Our investigation concerns whether the members of the Special Committee of the Board that recommended the sale were truly independent of BDT, whether the acquisition price adequately compensates Weber shareholders, and whether all material information regarding the transaction has been fully disclosed.
In particular, BDT sold shares of Weber to the public at $14.00 per share in an initial public offering (IPO) in August 2021. Thus, the sales price is 42.5% below the IPO price, representing a substantial loss in value for public Weber shareholders in just over a year.