San Diego, CA -- (SBWire) -- 08/11/2015 --An investigation for investors in shares of Magnetek Inc (NASDAQ:MAG) was announced concerning whether the takeover of Magnetek Inc by Columbus McKinnon Corporation $50 per share is unfair to NASDAQ:MAG stockholders.
Investors who purchased shares of Magnetek Inc (NASDAQ:MAG) and currently hold any of those NASDAQ:MAG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Magnetek Inc breached their fiduciary duties owed to NASDAQ:MAG investors in connection with the proposed acquisition.
On July 27, 2015, Columbus McKinnon Corporation (NASDAQ: CMCO) and Magnetek, Inc. (NASDAQ: MAG) announced that they have entered into an agreement for Columbus McKinnon to acquire all of the outstanding shares of Magnetek for $50 per share for a total value of $188.9 million. Magnetek designs and manufactures digital power and motion control solutions for material handling, elevators and mining applications.
However, the investigation concerns whether the offer is unfair to NASDAQ:MAG stockholders. More specifically, the investigation concerns whether the Magnetek Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Magnetek Inc (NASDAQ:MAG) closed on August 7, 2015, at $49.95 per share.
Those who are current investors in Magnetek Inc (NASDAQ:MAG) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Magnetek Inc (NASDAQ:MAG) Shareholder Notice: Investigation of Takeover by Columbus McKinnon Corporation
An investigation on behalf of investors of Magnetek Inc (NASDAQ:MAG) in connection with the proposed takeover was announced and NASDAQ:MAG stockholders should contact the Shareholders Foundation.