An investigation on behalf of investors of Kaydon Corporation (NYSE:KDN) in connection with the proposed takeover was announced and NYSE:KDN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/10/2013 -- An investigation on behalf of investors, who currently hold shares of Kaydon Corporation (NYSE:KDN) shares, was announced concerning whether the takeover of Kaydon Corporation by AB SKF for $35.50 per NYSE:KDN share is unfair to Kaydon stockholders.
Investors who purchased shares of the Kaydon Corporation (NYSE:KDN) and currently hold any of those NYSE:KDN 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 Kaydon Corporation breached their fiduciary duties owed NYSE:KDN investors in connection with the proposed acquisition.
On September 5, 2013 Kaydon Corporation (NYSE:KDN) and AB SKF (OMX: SKF B) announced that they signed an agreement under which AB SKF will acquire Kaydon Corporation for $35.50 per share in an all-cash transaction that values Kaydon Corporation at approximately $1.25 billion, including debt.
However, given that at least one analyst has set the high target price for NYSE:DN shares at $36.00 per share, the investigation concerns whether the $35.50-offer is unfair to NYSE:KDN stockholders. More specifically, the investigation concerns whether the Kaydon 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 5, 2013, shares of Kaydon Corporation (NYSE:KDN) closed at $35.54 per share.
Those who are current investors in Kaydon Corporation (NYSE:KDN) and purchased their Kaydon 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
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