An investigation on behalf of investors of Multi Packaging Solutions International Ltd (NYSE:MPSX) in connection with the proposed takeover was announced and NYSE:MPSX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/24/2017 -- An investigation on behalf of investors, who currently hold shares of Multi Packaging Solutions International Ltd (NYSE:MPSX), was announced over the takeover of Multi Packaging Solutions International Ltd. by WestRock Company for $18.00 per share.
Investors who purchased shares of Multi Packaging Solutions International Ltd (NYSE:MPSX) and currently hold any of those YSE:MPSX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Multi Packaging Solutions International Ltd breached their fiduciary duties owed to Multi NYSE:MPSX investors in connection with the proposed acquisition.
On January 24, 2017, WestRock Company (NYSE:WRK) and Multi Packaging Solutions International Ltd (NYSE:MPSX) announced today that a definitive agreement has been reached for WestRock to acquire all of the outstanding shares of MPS for $18.00 per share in cash and the assumption of an estimated $873 million in net debt, for a total enterprise value of $2.28 billion.
However, given that the two largest shareholders of MPS, representing approximately 57% of the shares outstanding, have already agreed to vote all of their shares in favor of the transaction, the investigation concerns whether the offer is unfair to MNYSE:MPSX stockholders. More specifically, the investigation concerns whether the Multi Packaging Solutions International 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 Multi Packaging Solutions International Ltd (NYSE:MPSX) closed on February 23, 2017 at $17.84 per share.
Those who are current investors in Multi Packaging Solutions International Ltd shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com