Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of SendGrid to Twilio (NYSE: TWLO). Under the terms of the transaction, SendGrid shareholders will receive 0.485 shares of Twilio Class A common stock for each share of SendGrid stock they own. Based on the closing price of Twilio stock on October 15, 2018, this represents a value of approximately $36.92 per share.
The SendGrid merger investigation concerns whether the Board of SendGrid breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Twilio is underpaying for SendGrid shares, thus unlawfully harming SendGrid shareholders.
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