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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Era Group Inc. (“Era” or the “Company”) (NYSE: ERA) with Bristow Group Inc. (“Bristow”). The transaction will be structured as a reverse triangular merger whereby Era will issue shares to Bristow stockholders. Under the terms of the transaction, Bristow shareholders would own 77% of the equity of the new company and Era shareholders would own 23%.
The Era merger investigation concerns whether the Board of Era breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether the merger with Bristow undervalues Era shares, thus unlawfully harming Era shareholders.
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