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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Primo Water Corporation(“Primo” or the “Company”) (NASDAQ: PRMW) to Cott Corporation (“Cott”) (NYSE: COT). Under the terms of the agreement, each share of Primo common stock will be exchanged for $5.04 in cash and 0.6549 common shares of Cott, or, at the election of Primo’s stockholders, for $14.00 in cash or 1.0229 common shares of Cott, subject to the proration procedures set forth in the merger agreement.
The Primo merger investigation concerns whether the Board of Primo breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Cott is underpaying for Primo shares, thus unlawfully harming Primo shareholders.
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