An investigation on behalf of investors of Tecumseh Products Company (NASDAQ:TECUA) in connection with a potential takeover was announced and NASDAQ:TECUA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/30/2013 -- An investigation on behalf of investors in Tecumseh Products Company (NASDAQ:TECUA) shares was announced concerning whether a takeover of Tecumseh Products Company would be unfair to investors in NASDAQ:TECUA shares.
Investors who purchased shares of the Tecumseh Products Company (NASDAQ:TECUA) and currently hold any of those NASDAQ:TECUA 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 is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:TECUA investors.
On Jan. 23, ¸ Tecumseh Products Company announced that over the past several months it has been working with Sagent Advisors, LLC, which the Company engaged to explore various strategic alternatives, including the possible sale of the Company. Tecumseh Products Company said that contrary to rumors, the Company has not received an offer at an $8 per share purchase price.
Following the announcement shares of Tecumseh Products Company (NASDAQ:TECUA) increased from $4.74 in early January 2013 to $7.90 per share.
However, given that NASDAQ:TECUA shares traded as high as $13.33 per share in early 2011 and as high as $14.68 per share in 2010 and that at least one analyst has set the target price of NASDAQ:TECUA shares at $15.00 per share, the investigation a law firm concerns whether the Tecumseh Products Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Tecumseh Products Company reported that its annual Revenue declined from $933.80 million in 2010 to $864.40 million in 2011 and that its Net Loss increased from $58.60 million in 2010 to $73.20 million in 2011.
On Jan 25, 2013, NASDAQ:TECUA shares closed at $7.16 per share.
Those who are current investors in Tecumseh Products Company (NASDAQ:TECUA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego