A lawsuit was filed for investors in shares of Kaydon Corporation (NYSE:KDN) in effort to halt the proposed takeover and NYSE:KDN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/16/2013 -- An investor, who currently hold shares of Kaydon Corporation (NYSE:KDN), filed a lawsuit in effort to halt the proposed takeover of Kaydon Corporation by AB SKF for $35.50 per NYSE:KDN share.
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 plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:KDN stockholders arising out of the attempt to sell Kaydon Corporation too cheaply via an unfair process to AB SKF.
On September 5, 2013 Kaydon Corporation and AB SKF 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, the plaintiff claims that the offer is too low and undervalues the plaintiff claims that the offer is too low and undervalues. Indeed, at least one analyst has set the high target price for NYSE:DN shares at $36.00 per share.
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