A lawsuit was filed for investors in shares of Pacer International, Inc. (NASDAQ:PACR) in effort to halt the proposed takeover and NASDAQ:PACR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/22/2014 -- An investor who currently holds Pacer International, Inc. (NASDAQ:PACR) shares filed a lawsuit in effort to halt the proposed takeover of Pacer International, Inc. by XPO Logistics, Inc.
Investors who purchased shares of Pacer International, Inc. (NASDAQ:PACR) and currently hold any of those NASDAQ:PACR shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:PACR stockholders arising out of the attempt to sell Pacer International, Inc. too cheaply via an unfair process to XPO Logistics, Inc.
On January 6, 2014, XPO Logistics, Inc (NYSE: XPO) and Pacer International, Inc. (NASDAQ:PACR) announced that they have entered into an agreement for XPO Logistics to acquire Pacer International, Inc. Under the terms of the proposed transaction, shareholders of Pacer International, Inc. will receive $6.00 in cash and $3.00 of XPO Logistics common stock for each share of Pacer common stock, subject to a price collar, for a total market value of $335 million and a total enterprise value of $296 million.
However, the plaintiff alleges that the offer is too low and undervalues Pacer International, Inc. and that the process is unfair to NASDAQ:PACR investors. At least one analyst has set the high target price at $10.00 per share and following the takeover news NASDAQ:PACR shares jumped in the open market to as high as $9.14 per share.
Those who are current investors in Pacer International, Inc. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego