An investigation for shareholders of Plum Creek Timber Co. Inc. (NYSE:PCL) in connection with the proposed takeover was announced and NYSE:PCL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/15/2015 -- An investigation for shareholders in NYSE:PCL shares was announced concerning whether the takeover of Plum Creek Timber Co. Inc. by Weyerhaeuser Company is unfair to NYSE:PCL stockholders.
On November 8, 2015, Weyerhaeuser Company and Plum Creek Timber Co. Inc. (NYSE:PCL) announced that they have entered into a merger agreement.
Investors who purchased shares of Plum Creek Timber Co. Inc. (NYSE:PCL) and currently hold any of those NYSE:PCL 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 Plum Creek Timber Co. Inc. breached their fiduciary duties owed to NYSE:PCL investors in connection with the proposed acquisition.
Under the terms of the agreement Plum Creek Timber Co. Inc. (NYSE:PCL) shareholders will receive 1.60 shares of Weyerhaeuser for each share of Plum Creek Timber Co. Inc. (NYSE:PCL held. Based on a closing price of $30.40 per NYSE:WY shares on November 6, 2015 shareholders of Plum Creek Timber Co. Inc. (NYSE:PCL) will receive approximately $48.64 per NYSE:PCL share they hold.
However, given that at least one analyst has set the high target price for NYSE:PCL shares at $50.00 per share and given that NYSE:PCL shares increased after the takeover announcement in the open market to as high as $49.98 per share on November 18, 2015, the investigation concerns whether the offer is unfair to NYSE:PCL stockholders. More specifically, the investigation concerns whether the Plum Creek Timber 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.
On December 11, 2015, NYSE:PCL shares closed at $46.96 per share.
Those who are current investors in Plum Creek Timber Co. Inc. (NYSE:PCL) 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