MONSEY, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is 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 at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/instructure-holdings/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
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.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
