Tripp Levy PLLC Announces That a Shareholder Lawsuit Has Been Filed on Behalf of Ladish Shareholders Regarding Ladish’s Buyout
28 Diciembre 2010 - 11:34AM
Business Wire
Tripp Levy PLLC announces that a lawsuit was filed on behalf of
shareholders of Ladish Co., Inc. (“Ladish” or the “Company”)
(Nasdaq:LDSH) concerning the sale of the Company to Allegheny
Technologies Inc. (“ATI”) for $24 in cash and 0.4556 shares of ATI
stock for every share of common stock owned in a transaction valued
at approximately $778 million. The implied value of deal is $46.75
per share based on ATI’s closing price on November 16, the day
before the announcement of the transaction.
The lawsuit alleges that a director of Ladish objected to the
proposed sale as unfairly low as well as the process. At least one
other company was interested in acquiring Ladish with a stock and
cash offer but the board decided to agree to ATI. The lawsuit
alleges the unfairness of the deal price to Ladish shareholders,
the process by which the Board of Directors considered the
transaction, and potential conflicts of interests among Ladish
Board members.
If you own Ladish common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact:
Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York,
New YorkToll Free: 877-772-3975Email: contact@tripplevy.com
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