(CVA Alert) Johnson Fistel Investigates Proposed Sale of Covanta; Is $20.25 a Fair Price?

SAN DIEGO, July 22, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Covanta Holding Corporation (NYSE: CVA) ("Covanta" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to EQT Infrastructure.  

On July 14, 2021, Covanta announced that it had agreed to be acquired by EQT in an all-cash transaction. Covanta stockholders will receive $20.25 in cash for each share of Covanta common stock owned.  The deal is scheduled to close in the fourth quarter of 2021.

The investigation concerns whether the Covanta board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Covanta shares of common stock.

If you are a shareholder of Covanta and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP