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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger between of NRC Group Holdings Corp. (“NRC Group” or the “Company”) (NYSE American: NRCG) and US Ecology, Inc. (“US Ecology”) (NASDAQGS: ECOL). When NRC Group and US Ecology merge, US Ecology stockholders will own approximately 70% of the combined company, and NRCG stockholders will own approximately 30% on a fully diluted basis. Under the terms of the deal, NRCG common stockholders will receive 0.196 shares of common stock of the new holding company for each share of NRCG common stock they own upon closing of the transaction, representing a price of $12.00 per share of NRCG stock.
The NRC Group merger investigation concerns whether the Board of NRC Group 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 US Ecology undervalues NRC Group shares, thus unlawfully harming NRC Group shareholders.
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