An investigation on behalf of investors of Norbord Inc. (NYSE:OSB) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 12/18/2020 -- An investigation was announced concerning whether the takeover of Norbord Inc. is unfair to NYSE: OSB stockholders.
Investors who purchased shares of Norbord Inc. (NYSE: OSB) and currently hold any of those NYSE: OSB shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Norbord breached their fiduciary duties owed to NYSE: OSB investors in connection with the proposed acquisition.
Toronto, Canada based Norbord Inc. manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe.
On November 19, 2020, Norbord Inc. announced that it had signed an agreement to be acquired by West Fraser Timber Co. Ltd. (Other OTC: WFTBF) for approximately $3.1 billion. Pursuant to the merger agreement, Norbord Inc. stockholders will receive 0.675 shares of West Fraser common stock for each share of Norbord common.
Based on a closing price of $55.91 per OTC: WFTBF share on November 18, 2020, investors in NYSE: OSB shares will receive a value of approximately $37.73 per share.
However, given that Norbord's principal shareholder, Brookfield Asset Management Inc. and its controlled entities ("Brookfield") have already entered into a voting support agreement (the "Brookfield Support Agreement"), pursuant to which Brookfield has agreed to vote all of its Norbord common shares, representing, in total, approximately 43% of the Norbord common shares, in favor of the Transaction at a special meeting of Norbord shareholders to be held to consider the proposed Transaction, the investigation concerns whether the offer is unfair to NYSE: OSB stockholders. More specifically, the investigation concerns whether the Norbord Inc. 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.
Those who are current investors in Norbord Inc. (NYSE: OSB) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.