Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of MuleSoft, Inc. (NYSE: MULE) to Salesforce (NYSE: CRM). Under the terms of the transaction, MuleSoft shareholders will receive $36.00 in cash and 0.0711 shares of Salesforce stock for each Class A or Class B share of MuleSoft stock they own. Based on the closing price of Salesforce stock on March 19, 2018, this represents $44.89 per share.
The investigation concerns whether the Board of MuleSoft breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Salesforce is underpaying for MuleSoft shares, thus unlawfully harming MuleSoft shareholders. Insiders owning approximately 30% of MuleSoft’s outstanding shares have agreed to tender their shares.
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