An investigation on behalf of investors of Tower International, Inc. (NYSE: TOWR) in connection with the proposed takeover was announced and NYSE: TOWR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/23/2019 -- The takeover of Tower International, Inc. is under investigation concerning potential wrongdoing.
Investors who purchased shares of Tower International, Inc. (NYSE: TOWR) and currently hold any of those NYSE: TOWR shares 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 Tower International, Inc. breached their fiduciary duties owed to NYSE: TOWR investors in connection with the proposed acquisition.
Livonia, MI based Tower International, Inc. manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. On July 12, 2019, Autokiniton Global Group and Tower International, Inc. (NYSE: TOWR) announced they have entered into a definitive agreement for Autokiniton Global Group to acquire Tower for $31 per share in cash.
However, given that at least one analyst has set the high target price for NYSE: TOWR shares at $40.00 per share and given that NYSE: TOWR shares traded in August 2018 in the open market as high as $36.65 per share, the investigation concerns whether the offer is unfair to Tower International, Inc. (NYSE: TOWR stockholders. More specifically, the investigation concerns whether the Tower International, Inc. (NYSE: TOWR 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.
Tower International, Inc. reported that its annual Total Revenue rose from over $1.38 billion in 2017 to over $1.57 billion in 2018 and that its Net Income increased from $47.62 million in 2017 to $48.90 million in 2018.
Shares of Tower International, Inc. (NYSE: TOWR) closed on July 22, 2019 at $per share.
Those who are current investors in Tower International, Inc. (NYSE: TOWR) 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
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.