MANKATO, Minn. (AP) — Three stockholder lawsuits are challenging the sale of the Mankato-based telecommunications company Enventis.
The lawsuits filed in Blue Earth County claim the sale to Consolidated Communications will leave stockholders with a "paltry" return for their investment. The court filings say Enventis directors and board members have made it difficult for other potential buyers to make a better offer than the $350 million in Consolidated Communications stock.
Enventis spokeswoman Jennifer Spaude tells The Free Press (http://bit.ly/1rBiAyd ) it's not uncommon for stockholder lawsuits to be filed when publicly traded companies go through mergers or acquisitions. Spaude says she cannot comment directly on the litigation.
Information from: The Free Press, http://www.mankatofreepress.com