A lawsuit was filed by investor in shares of Sigma-Aldrich Corporation (NASDAQ:SIAL) in effort to stop the proposed takeover and NASDAQ:SIAL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2014 -- The Shareholders Foundation announces that an investor, who currently holds shares of Sigma-Aldrich Corporation (NASDAQ:SIAL), filed a lawsuit in effort to halt the proposed takeover of Sigma-Aldrich Corporation by Merck KGaA.
Investors who purchased shares of Sigma-Aldrich Corporation (NASDAQ:SIAL) and currently hold any of those NASDAQ:SIAL shares have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SIAL stockholders by agreeing to sell Sigma-Aldrich too cheaply via an unfair process to Merck KGaA.
On September 22, 2014, Merck KGaA and Sigma-Aldrich announced that they have entered into an agreement under which Merck KGaA will acquire Sigma-Aldrich for $17.0 billion (€13.1 billion). Under the terms of the proposed transaction Merck KGaA will acquire all of the outstanding shares of Sigma-Aldrich for $140 per share in cash.
However, the plaintiff claims that the offer is too low and undervalues Sigma-Aldrich Corporation. Indeed, Sigma-Aldrich Corporation’s performance improved over the past years. In fact, Sigma-Aldrich Corporation reported that its annual Total Revenue rose from over $2.27 billion in 2010 to over $2.7 billion in 2013 and that its respective Net Income increased from $384 million to $491 million. Shares of Sigma-Aldrich Corporation (NASDAQ:SIAL) grew from $47.46 per share in February 2010 to as high as $104.14 per share on August 19, 2014. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:SIAL stockholders.
On October 6, 2014, NASDAQ:SIAL shares closed at $135.72 per share
Those who are current investors in Sigma-Aldrich Corporation 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