An investigation on behalf of investors of Feihe International Inc (NYSE:ADY) in connection with the proposed takeover was announced and NYSE:ADY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2012 -- An investigation on behalf of investors in Feihe International Inc (NYSE:ADY) shares was announced concerning whether the offer to acquire Feihe International Inc at $7.40 per NYSE:ADY share and the takeover process are unfair to investors in NYSE:ADY shares.
Investors who purchased shares of the Feihe International Inc (NYSE:ADY) prior to October 3, 2012, and currently hold any of those NYSE:ADY shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Feihe International Inc breached their fiduciary duties owed to NYSE:ADY investors in connection with the proposed acquisition.
On October 3, 2012, -- Feihe International, Inc. (NYSE: ADY) announced that its Board of Directors has received a preliminary, non-binding proposal letter dated October 3, 2012 from Mr. You-Bin Leng, the Company's Chairman and Chief Executive Officer, and an affiliate of Morgan Stanley Private Equity Asia, the private equity arm of Morgan Stanley, to acquire all of the outstanding shares of common stock of the Company not currently owned by Mr. Leng (and possibly other rollover shareholders) in a going private transaction for $7.40 per share of common stock in cash, subject to certain conditions.
However, at least one analyst has set the high target price for NYSE:ADY shares at $9.00 per share.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:ADY stockholders. Specifically, the investigation focuses on whether the Feihe International Board of Directors will undertake an adequate sales process, adequately shops the company before entering into the transaction, maximizes shareholder value by negotiating the best price, and acts in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Feihe International Inc (NYSE:ADY) and purchased their Feihe International Inc shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego