An investigation on behalf of investors of Chemtura Corp (NYSE:CHMT) in connection with the proposed takeover was announced and NYSE:CHMT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/03/2016 -- The acquisition of Middlebury, CT based Chemtura Corp is under investigation concerning potential wrongdoing by certain directors. The investigation was announced for investors, who currently hold NYSE:CHMT shares, concerning whether the takeover of Chemtura Corp. by LANXESS AG for $33.50 per share is unfair to NYSE:CHMT stockholders.
Investors who purchased shares of Chemtura Corp (NYSE:CHMT) and currently hold any of those NYSE:CHMT 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 directors of Chemtura Corp breached their fiduciary duties owed to NYSE:CHMT investors in connection with the proposed acquisition.
On September 25, 2016, Chemtura Corp (NYSE:CHMT) announced that it has entered into an agreement pursuant to which LANXESS AG will acquire Chemtura Corp (NYSE:CHMT) in a transaction valued at approximately $2.5 billion. Under the terms of the agreement, Chemtura Corp (NYSE:CHMT) shareholders will receive $33.50 per share in cash for each outstanding share of common stock held.
However, given that at least one analyst has set the high target price for NYSE:CHMT shares at $35.00 per share, the investigation concerns whether the offer is unfair to NYSE:CHMT stockholders. More specifically, the investigation concerns whether the Chemtura 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 September 30, 2016, NYSE:CHMT shares closed at $32.81 per share.
Those who are current investors in Chemtura Corp 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