Zygo Corporation (ZIGO) Investor Lawsuit to Halt Takeover Announced by Shareholders Foundation
22 Abril 2014 - 8:35AM
The Shareholders Foundation, Inc. announces that an investor, who
currently holds Zygo Corporation (ZIGO) shares, filed a lawsuit to
halt the proposed takeover of Zygo by AMETEK, Inc for $19.25 per
share.
Investors, who purchased shares of Zygo Corporation (ZIGO) prior
to April 11, 2014 and currently hold any of those shares, have
certain options and should contact the Shareholders Foundation,
Inc. at mail@shareholdersfoundation.com or call +1 (858)
779-1554.
On April 11, 2014, AMETEK, Inc. and Zygo Corporation announced
that they have entered into a merger agreement under which AMETEK
will acquire all of the outstanding shares of common stock of Zygo
at a purchase price of $19.25 per share in cash.
However, the plaintiff claims that the $19.25-offer is too low
and undervalues Zygo Corporation. Shares of Zygo Corporation (ZIGO)
grew from $3.40 per share in March 2009 to as high as $19.98 per
share in May 2012 and traded after the takeover announcement on
April 11, 2014 in the open market as high as $19.63 per share.
In addition, the plaintiff claims that the process is unfair to
ZIGO stockholders. Indeed, MAK Capital One LLC, a financial
investment advisory firm controlled by Michael A. Kaufman, the
Chairman of the Board of Zygo, which beneficially owns
approximately 23.6% of the outstanding shares of Zygo, as well as
Mr. Willis, have already agreed to vote their shares of Zygo common
stock in favor of the merger.
On April 21, 2014, ZIGO shares closed at $19.25 per share.
Those who currently are investors in Zygo Corporation (ZIGO)
shares and purchased any of those Zygo shares prior to the
announcement have certain options and should contact the
Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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