A TreeHouse Foods shareholder has gone to Delaware’s Court of Chancery, launching the TreeHouse $2.9B Sale lawsuit just hours before investors are set to vote on the company’s proposed sale, alleging the company stonewalled requests for key documents tied to the blockbuster deal.
The suit, filed late Wednesday, seeks expedited access to records surrounding TreeHouse’s November agreement to sell the packaged snack and beverage maker for $2.9 billion to affiliates of Investindustrial VIII SCSp, a Europe-based investment group with a global footprint.
Shareholder Challenges Disclosure Ahead of Vote
The complaint was docketed a day before the shareholder vote and accuses TreeHouse of improperly rejecting earlier demands for information about the transaction. The plaintiff, stockholder Dean Drulias, says those refusals left investors navigating the deal “in the dark” as the finish line approaches.
Investindustrial, the proposed buyer, operates across Europe, the United States, Asia and Saudi Arabia.
