An investigation on behalf of investors of Michael Baker Corp (NYSEAMEX:BKR) in connection with a potential takeover was announced and NYSEAMEX:BKR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/20/2012 -- An investigation on behalf of investors in Michael Baker Corp (NYSEAMEX:BKR) shares was announced concerning whether a takeover of Michael Baker Corp would be unfair to investors in NYSEAMEX:BKR shares.
Investors who purchased shares of the Michael Baker Corp (NYSEAMEX:BKR) and currently hold any of those NYSEAMEX:BKR 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 is at an early stage and concerns whether a potential takeover would be unfair to NYSEAMEX:BKR investors.
On December 19, 2012, Michael Baker Corporation said that it has received a letter from DC Capital Partners proposing that KS International, LLC, in which DC Capital has a controlling interest, acquire Baker at $24.25 per share in cash and is prepared to immediately negotiate and execute definitive agreements.
However, at least one analyst has set the high target price for shares of Michael Baker Corp (NYSEAMEX:BKR) at $34.00 per share and NYSEAMEX:BKR shares traded as recently as July 2012 as high as $26.43 per share, thus well above the current offer.
Therefore the investigation a law firm concerns whether the Michael Baker Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Michael Baker Corp (NYSEAMEX:BKR) and purchased their Michael Baker Corp 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