A lawsuit was filed for investors in shares of Chemtura Corp (CHMT) in connection with the proposed takeover was announced and NYSE:CHMT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/04/2017 -- The Shareholders Foundation announced that an investor who currently holds shares of Chemtura Corp (NYSE:CHMT), filed a lawsuit in effort to halt the proposed takeover of Chemtura Corp. by LANXESS AG for $33.50 per share.
Investors who purchased shares of Chemtura Corp (NYSE:CHMT) and currently hold any of those NYSE:CHMT shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CHMT stockholders by agreeing to sell Chemtura Corp. too cheaply via an unfair process to LANXESS AG.
On September 25, 2016, Chemtura Corp (NYSE:CHMT) announced that it has entered into an agreement pursuant to which LANXESS AG will acquire Chemtura Corp (NYSE:CHMT) in a transaction valued at approximately $2.5 billion. Under the terms of the agreement, Chemtura Corp (NYSE:CHMT) shareholders will receive $33.50 per share in cash for each outstanding share of common stock held.
However, plaintiff claims that the proposed consideration NYSE:CHMT shareholders will receive is grossly inadequate and undervalues Chemtura Corp. Indeed, at least one analyst has set the high target price for NYSE:CHMT shares at $35.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:CHMT stockholders.
On January 3, 2016, NYSE:CHMT shares closed at $33.15 per share.
Those who are current investors in Chemtura Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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