An investigation on behalf of investors of Steinway Musical Instruments Inc (NYSE:LVB) in connection with the proposed takeover was announced and NYSE:LVB stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 07/03/2013 --An investigation on behalf of investors in Steinway Musical Instruments Inc (NYSE:LVB) shares was announced concerning whether the offer by Kohlberg & Company to acquire Steinway Musical Instruments Inc for $35.00 per NYSE:LVB share and the takeover process are unfair to investors in NYSE:LVB shares.

Investors who purchased shares of Steinway Musical Instruments Inc (NYSE:LVB) prior to July 1, 2013 , and currently hold any of those NYSE:LVB shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Steinway Musical Instruments Inc breached their fiduciary duties owed to NYSE:LVB investors in connection with the proposed acquisition.

On July 1, 2013, Steinway Musical Instruments Inc (NYSE:LVB) announced that it has entered into an agreement to be acquired by an affiliate of Kohlberg & Company in a transaction valued at approximately $438 million. Under the terms of the agreement, an affiliate of Kohlberg & Company will commence a tender offer to acquire all of the outstanding shares of Steinway Musical Instruments’ common stock for $35.00 per share in cash.

However, given that following the takeover news NYSE:LVB shares increased in the open market to $35.42 per share, the investigation by a law firm concerns whether the offer is too low for NYSE:LVB stockholders. More specifically, the investigation focuses on whether the Steinway Musical Instruments 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.

Steinway Musical Instruments Inc reported that its annual Total Revenue rose from $346.26 million in 2011 to $353.72 million in 2012 and that its respective Net Income increased from $1.63 million to $13.51 million. Shares of Steinway Musical Instruments Inc (NYSE:LVB) grew from $9.44 in March 2009 to $29.62 per share in June 2013.

On July 2, 2013, NYSE:LVB shares closed at $35.34 per share.

Those who are current investors in Steinway Musical Instruments Inc (NYSE:LVB), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com