BALA CYNWYD, Pa., May 13, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

Reneo Pharmaceuticals, Inc. (Nasdaq – RPHM)

Under the terms of the agreement, Reneo will merge with OnKure, Inc. Pre-merger Reneo stockholders are expected to own approximately 31% of the combined company, and pre-merger OnKure stockholders are expected to own approximately 69% of the combined company. The investigation concerns whether the Reneo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to Company shareholders in the combined company.

Additional information can be found at https://www.brodskysmith.com/cases/reneo-pharmaceuticals-inc-nasdaq-rphm/.

Perficient, Inc. (Nasdaq – PRFT)

Under the terms of the agreement, Perficient will be acquired by an affiliate of BPEA Private Equity Fund VIII (“EQT Asia”), part of EQT AB, in an all-cash transaction that values Perficient at an enterprise value of approximately $3.0 billion. Perficient stockholders will receive $76.00 per share in cash for each share of common stock owned as of the closing of the transaction. The investigation concerns whether the Perficient Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/perficient-inc-nasdaq-prft/.

ALLETE, Inc. (NYSE – ALE)

Under the terms of the agreement, ALLETE will be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners (the “Partnership”). The Partnership will acquire ALLETE for $67.00 per share in cash, or $6.2 billion including the assumption of debt. The investigation concerns whether the ALLETE Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/allete-inc-nyse-ale/.

Hibbett, Inc. (Nasdaq – HIBB)

Under the terms of the agreement, Hibbett will be acquired by JD Sports Fashion plc (“JD Sports”). Under the terms of the transaction, JD Sports will acquire Hibbett for $87.50 per share in cash, for an enterprise value of approximately $1.1 billion. The investigation concerns whether the Hibbett Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether JD Sports is paying fair value to shareholders of the Company.

Additional information can be found at https://www.brodskysmith.com/cases/hibbett-inc-nasdaq-hibb/.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

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