A hedge fund became the first MeridianLink Inc. shareholder Tuesday to initiate legal proceedings challenging the fintech’s $2 billion sale to Centerbridge Partners LP.
Verition Multi-Strategy Master Fund Ltd. filed a petition asking Delaware’s Chancery Court to second-guess the $20-per-share transaction cashing out public investors in the banking software maker, which closed in October. Although Verition is the first to commence a formal court case, other funds eyeing the deal have sent appraisal demands to the company, signaling they’re likely to follow suit.
MeridianLink and Centerbridge representatives didn’t immediately respond to requests for comment Tuesday.
Tuesday’s filing provides the ...
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