An investigation on behalf of investors of Con-way Inc (NYSE:CNW) in connection with the proposed takeover was announced and NYSE:CNW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/28/2015 -- An investigation for shareholders in shares of Con-way Inc (NYSE:CNW) was announced concerning whether the takeover of Con-way Inc by XPO Logistics, Inc for $447.60 per share is unfair to NYSE:CNW stockholders.
On September 9, 2015, XPO Logistics, Inc. and Con-way Inc (NYSE:CNW) announced that they have entered into an agreement for XPO Logistics to acquire Con-way.
Investors who purchased shares of Con-way Inc (NYSE:CNW) and currently hold any of those NYSE:CNW 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 Con-way Inc breached their fiduciary duties owed to NYSE:CNW investors in connection with the proposed acquisition.
Under the terms of the agreement, XPO Logistics, Inc will launch a tender offer for all of Con-way's outstanding shares at a cash price of $47.60 per share.
However, given that at least one analyst has set the high target price for NYSE:CNW shares at $59.00 per share and given that NYSE:CNW shares traded in September 2014 as high as $53.33 per share, the investigation concerns whether the offer is unfair to NYSE:CNW stockholders. More specifically, the investigation concerns whether the Con-way 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.
On September 25, 2015, NYSE:CNW shares closed at $47.13 per share.
Those who are current investors in Con-way Inc (NYSE:CNW) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego