An investigation on behalf of investors of Terex Corporation (NYSE:TEX) in connection with the proposed takeover was announced and NYSE:TEX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/02/2015 -- An investigation for investors who purchased NYSE:TEX shares was announced concerning whether the takeover of Terex Corp. by Konecranes Plc for a value of approximately $28.80 per share is unfair.
On August. 11, 2015, Terex Corporation (NYSE:TEX) and Konecranes Plc (Helsinki: KCR1V.HE) jointly announced that their respective Boards of Directors have approved a business combination agreement and the resulting all-stock merger of equals.
Investors who purchased shares of Terex Corporation (NYSE:TEX) and currently hold any of those NYSE:TEX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of breached their fiduciary duties owed to NYSE:TEX investors in connection with the proposed acquisition.
Under the terms of the proposed transaction Terex' stockholders will received 0.80 shares of Konecranes for each Terex Corporation share owned, or approximately $28.80 per share based on the August 14, 2015 opening price of Konecranes.
However, given that at least one analyst has set the high target price for NYSE: TEX shares at $35.00 per share and given that NYSE:TEX shares traded as recently as May 2015 as high as $28.85 per share, the investigation concerns whether the offer is unfair to NYSE:TEX stockholders. More specifically, the investigation concerns whether the Terex 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 August 31, 2015, NYSE:TEX shares closed at $23.33 per share.
Those who are current investors in Terex Corporation (NYSE:TEX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego