SHAREHOLDER ALERT: Brower Piven Commences an Investigation into the Proposed Sale of Terex Corp. & Encourages Investors to Co...
August 13 2015 - 3:56PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Terex Corporation (“Terex” or the
“Company”) (NYSE:TEX) relating to the proposed buyout of the
Company by Konecranes Plc.
Under the terms of the transaction, Terex shareholders are
anticipated to receive 0.80 shares of Konecranes for each Terex
share owned. This represents a consideration of $24.75 based on the
August 7, 2015 closing price of Konecranes.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock. The transaction may undervalue Terex and may result in a
substantial loss for many shareholders. For example, according to
Yahoo! Finance, at least one Wall Street analyst has issued a price
target for Terex stock at $35.00 per share.
If you currently own common stock of Terex and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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version on businesswire.com: http://www.businesswire.com/news/home/20150813006338/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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