An investigation on behalf of investors of UTi Worldwide Inc. (NASDAQ:UTIW) in connection with the proposed takeover was announced and NASDAQ:UTIW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/27/2015 -- An investigation for shareholders, who currently hold shares of UTi Worldwide Inc. (NASDAQ:UTIW), was announced concerning whether the takeover of UTi Worldwide Inc. by DSV for $7.10 in cash is unfair to NASDAQ:UTIW stockholders.
Investors who purchased shares of UTi Worldwide Inc. (NASDAQ:UTIW) and currently hold any of those NASDAQ:UTIW 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 UTi Worldwide Inc. breached their fiduciary duties owed to NASDAQ:UTIW investors in connection with the proposed acquisition.
On October 9, 2015 UTi Worldwide Inc. (NASDAQ:UTIW) announced it has entered into an agreement to be acquired by DSV for $7.10 in cash per ordinary share.
However, given that at least one analyst has set the high target price for NASDAQ:UTIW shares at $14.00 per share and given that NASDAQ:UTIW shares traded as high as $13.49 per share in March 2015, the investigation concerns whether the offer is unfair to NASDAQ:UTIW stockholders. More specifically, the investigation concerns whether the UTi Worldwide 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 October 26, 2015, NASDAQ:UTIW shares closed at $7.05 per share.
Those who are current shareholders in UTi Worldwide Inc. 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