An investigation on behalf of investors of Molex Incorporated (NASDAQ:MOLX) in connection with the proposed takeover was announced and NASDAQ:MOLX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/11/2013 -- An investigation on behalf of investors, who currently hold shares of Molex Incorporated (NASDAQ:MOLX) shares, was announced concerning whether the takeover of Molex Incorporated by Koch Industries, Inc for $38.50 per NASDAQ:MOLX share is unfair to Molex stockholders.
Investors who purchased shares of the Molex Incorporated (NASDAQ:MOLX) and currently hold any of those Molex NASDAQ:MOLX 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 Molex Incorporated breached their fiduciary duties owed NASDAQ:MOLX investors in connection with the proposed acquisition.
On September 9, 2013 Molex Incorporated announced that it has entered into an agreement to be acquired by Koch Industries, Inc. Under the terms of the agreement, Koch Industries will acquire all of Molex's outstanding shares, including the Common Stock (MOLX), the Class A Common Stock (MOLXA) and the Class B Common Stock, for $38.50 per share in cash, for a total equity value of approximately $7.2 billion.
However, given that certain members of the Krehbiel Family and certain executive officers of Molex, owning in the aggregate voting stock representing approximately 32% of the Common Stock and 94% of the Class B Common Stock, have already entered into voting agreements with Koch Industries by which they have agreed to vote their stock in support of the transaction, the investigation concerns whether the $38.50-offer is unfair to NASDAQ:MOLX stockholders. More specifically, the investigation concerns whether the Molex 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.
Shares of Molex Incorporated (NASDAQ:MOLX) grew from $10.05 per share in March 2009 to as high as $30.85 per share in August 2013.
On September 10, 2013, NASDAQ:MOLX shares closed at $38.65 per share.
Those who are current investors in Molex Incorporated (NASDAQ:MOLX) and purchased their Molex 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