Law Firm Probes Mission Produce–Calavo Merger Giving Mission Shareholders 80.3% Stake
Halper Sadeh LLC is investigating Mission Produce’s pending merger with Calavo Growers, in which Mission shareholders would own 80.3% of the combined company. The firm alleges insiders could secure advantages not extended to ordinary investors and may pursue increased consideration or other relief on a contingent fee basis.
1. Merger Terms
Mission Produce and Calavo Growers have agreed to merge under terms granting Mission shareholders approximately 80.3% of the combined company. Calavo shareholders will receive $14.85 in cash plus 0.9790 Mission Produce shares per Calavo share, creating a vertically integrated produce supplier.
2. Investigation Allegations
Halper Sadeh LLC is probing the merger for potential breaches of fiduciary duty, alleging that insiders may obtain financial benefits and terms that could discourage superior competing offers. The firm warns that ordinary shareholders might be disadvantaged under the current transaction structure.
3. Shareholder Options
Shareholders are invited to discuss their legal rights at no cost, with the firm working on a contingent fee basis that precludes out-of-pocket expenses. Potential actions include seeking increased consideration, additional disclosures or other relief to protect investor interests.