An investigation on behalf of investors of Stillwater Mining Company (NYSE:SWC) in connection with the proposed takeover was announced and NYSE:SWC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/13/2016 -- An investigation on behalf of investors in shares of Stillwater Mining Company (NYSE:SWC), was announced over the buyout of Stillwater Mining Company by Sibanye Gold Limited.
Investors who purchased shares of Stillwater Mining Company (NYSE:SWC) and currently hold any of those NYSE:SWC 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 Stillwater Mining Company directors breached their fiduciary duties owed to NYSE:SWC investors in connection with the proposed acquisition.
On December 9, 2016, Stillwater Mining Company announced that it has entered into an agreement with Sibanye Gold Limited, under which Sibanye will acquire Stillwater for $18.00 per share in cash representing an aggregate enterprise value of $2.2 billion.
However, given that at least one analyst has set the high target price for NYSE:SWC shares at $21 per share, the investigation concerns whether the offer is unfair to NYSE:SWC stockholders. In addition, given that Sibanye's two largest shareholders, Gold One International Ltd. and Public Investment Corporation Ltd., which in aggregate represent 29% of Sibanye's issued share capital, have already confirmed their support of the Transaction, the investigation concerns whether the Stillwater Mining 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.
Shares of Stillwater Mining Company (NYSE:SWC) closed on December 12, 2016, at $17.19 per share.
Those who are current investors in Stillwater Mining Company 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