An investigation on behalf of investors of Fairmount Santrol Holdings Inc. (NYSE: FMSA) in connection with the proposed takeover was announced and NYSE: FMSA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/16/2018 -- The takeover of Fairmount Santrol Holdings Inc. is under investigation over possible wrongdoing.
Investors in shares of Fairmount Santrol Holdings Inc. (NYSE: FMSA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Fairmount Santrol Holdings Inc. breached their fiduciary duties owed to NYSE: FMSA investors in connection with the proposed acquisition.
On Dec. 12, 2017, Fairmount Santrol (NYSE:FMSA) and Unimin Corporation announced that the Boards of Directors of both companies have approved an agreement under which Fairmount and Unimin will combine in a tax-free, cash and stock transaction.. Under the terms of the transaction, Fairmount shareholders will receive approximately $0.74 per share. Investors representing 26% of Fairmount's outstanding common stock have already agreed to tender their shares.
However, the investigation concerns whether the offer is unfair to NYSE: FMSA stockholders. More specifically, the investigation concerns whether the Fairmount Santrol Holdings 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.
Fairmount Santrol Holdings Inc. reported that its annual Total Revenue rose from $535.01 million in 2016 to $959.79 million in 2017 and that its Net Loss of $140.19 million in 2016 turned into a Net Income of $53.78 million in 2017
On April 13, 2018, NYSE: FMSA shares closed at $5.15 per share.
Those who are current investors in Fairmount Santrol Holdings Inc. (NYSE: FMSA) 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