The law firm said it is investigating whether the boards of Luxfer Holdings, Finward Bancorp, Personalis and Distribution Solutions Group ran fair sale processes and secured fair value for shareholders.
Brodsky & Smith said it is investigating four announced takeovers to assess whether the target companies’ boards breached fiduciary duties by failing to run fair sale processes or obtain fair value for shareholders. The matters involve Luxfer Holdings PLC, which is set to be acquired by Wynnchurch Capital, L.P. for $17.37 per ordinary share in cash; Finward Bancorp, which agreed to an all-stock sale to First Financial Bancorp. in which each Finward share would be exchanged for 1.35 shares of First Financial common stock, valuing the transaction at about $208 million based on First Financial’s closing stock price on July 20, 2026; Personalis, Inc., which agreed to be acquired by Tempus AI, Inc. for $16.25 per share of common stock in a deal with a total enterprise value of $1.5 billion, net of Tempus’ existing ownership interest; and Distribution Solutions Group, Inc., which agreed to be acquired by LKCM Headwater Investments, LLC for $35.00 per share in cash. In the Distribution Solutions Group deal, LKCM Headwater and its affiliates already own about 79% of the company’s outstanding common stock, and J. Bryan King, Distribution Solutions Group’s Chairman and Chief Executive Officer, is the Managing Partner of LKCM Headwater. Brodsky & Smith said shareholders can contact Jason Brodsky or Marc Ackerman to discuss the investigations and said there is no cost or financial obligation to do so.