An investigation on behalf of investors of SL Industries, Inc. (NYSEMKT:SLI) in connection with the proposed takeover was announced and NYSEMKT:SLI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/14/2015 -- An investigation on behalf of investors, who currently hold shares of SL Industries, Inc. (NYSEMKT:SLI), was announced concerning whether the takeover of SL Industries, Inc. by Handy & Harman Ltd for a per share price of $43.00 to $45.00 is unfair to NYSEMKT:SLI stockholders.
Investors who purchased shares of SL Industries, Inc. (NYSEMKT:SLI) and currently hold any of those NYSEMKT:SLI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of SL Industries, Inc. breached their fiduciary duties owed to NYSEMKT:SLI investors in connection with the proposed acquisition.
On June 18, 2015, SL Industries, Inc. (NYSEMKT:SLI) announced that the independent members of its Board of Directors have received a non-binding proposal from Handy & Harman Ltd., a publicly traded NASDAQ company, to acquire all outstanding shares of common stock of SL Industries, Inc. (NYSEMKT:SLI) for a per share price of $43.00 to $45.00.
However, given that NYSEMKT:SLI shares traded in October 2014 as high as $50.15 per share and given that Handy & Harman is an affiliate of Steel Partners Holdings L.P., which beneficially owns already 25.3% of SL Industries, Inc.'s outstanding common stock, the investigation concerns whether the offer is unfair to NYSEMKT:SLI stockholders. More specifically, the investigation concerns whether the SL Industries 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 July 10, 2015, NYSEMKT:SLI shares closed at $39.25 per share.
Those who are current investors in SL Industries, Inc. (NYSEMKT:SLI) 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