The law firm of Brodsky & Smith is currently investigating several business acquisitions, including Exxon Mobil 's (NYSE:XOM) purchase of Pioneer Natural Resources (NYSE:NYSE:PXD) and the acquisition of Consolidated Communications (NASDAQ:CNSL) by Searchlight Capital Partners and British Columbia Investment Management Corporation affiliates. These investigations are spearheaded by Jason Brodsky and Marc Ackerman, who are known for their role as lead counsel in class actions and securities lawsuits.
Today, the firm revealed that it is looking into Exxon Mobil's acquisition of Pioneer Natural Resources, a deal with a market value of $55.4 billion. The focus of the investigation is a potential breach of fiduciary duties, as shareholders set to receive $253 per share in cash question the fairness of the process. This comes at a time when Exxon Mobil, according to InvestingPro data, has a market cap of $436.67B USD and a P/E ratio of 8.76, and has been profitable over the last twelve months. Additionally, InvestingPro Tips reveal that Exxon Mobil has raised its dividend for 40 consecutive years and 14 analysts have revised their earnings upwards for the upcoming period.
In addition to the Exxon-Pioneer deal, Brodsky & Smith is also scrutinizing the acquisition of Consolidated Communications by Searchlight Capital Partners and British Columbia Investment Management Corporation affiliates. This transaction carries an enterprise value of approximately $3.1 billion, including debt assumption. Shareholders are set to receive $4.70 per share in cash for remaining Consolidated common stock, which has raised concerns about shareholder fairness.
Another merger under investigation is between Summit Materials (NYSE:SUM) and Argos North America Corp., valued at $3.2 billion. The firm is examining this deal due to potential dilution of Summit shareholders' interests. Following the merger, Argos will hold a 31% stake in Summit.
On the other hand, Pioneer Natural Resources has a market cap of $58.16B USD, a P/E ratio of 10.15 and has also been profitable over the last twelve months, as per InvestingPro data. In line with InvestingPro Tips, Pioneer Natural Resources has raised its dividend for 5 consecutive years and 12 analysts have revised their earnings upwards for the upcoming period.
Brodsky & Smith has successfully recovered millions of dollars for clients in past cases and uses attorney advertising to keep shareholders informed about these investigations. Shareholders seeking additional details can reach Brodsky or Ackerman at 855-576-4847. For more in-depth insights and tips like these, interested investors can visit InvestingPro, which offers additional tips for both Exxon Mobil and Pioneer Natural Resources, among other companies.
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