An investigation on behalf of investors of Tecumseh Products Company (NASDAQ:TECU) in connection with the proposed takeover was announced and NASDAQ:TECU stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/18/2015 -- An investigation for investors, who currently hold shares of Tecumseh Products Company (NASDAQ:TECU), was announced concerning whether the takeover of Tecumseh Products Company by Mueller Industries, Inc for $5.00 per share is unfair to NASDAQ:TECU stockholders.
Investors who purchased shares of Tecumseh Products Company (NASDAQ:TECU) and currently hold any of those NASDAQ:TECU 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 Tecumseh Products Company breached their fiduciary duties owed to NASDAQ:TECU investors in connection with the proposed acquisition.
On August 5, 2015, Tecumseh Products Company (NASDAQ:TECU) in conjunction with Mueller Industries, Inc. (NYSE: MLI) and Atlas Holdings LLC announced that they have entered into a merger agreement under which an affiliate of Mueller Industries and Atlas Holdings will acquire Tecumseh Products Company for $5.00 per share in cash in a transaction valued at approximately $123 million, including the assumption of net debt.
However, given that NASDAQ:TECU shares trade ion 2014 as high as $9.04 per share, the investigation concerns whether the offer is unfair to NASDAQ:TECU stockholders. More specifically, the investigation concerns whether the Tecumseh Products 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 Tecumseh Products Company (NASDAQ:TECU) closed on August 14, 2015, at $4.96 per share.
Those who are current investors in Tecumseh Products Company (NASDAQ:TECU) 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