NEW YORK, Aug. 12, 2015 /PRNewswire/ -- The proposed
acquisition of Terex Corporation ("TEX" or the "Company") by
Konecranes Plc ("Konecranes") is being investigated by WeissLaw LLP
for possible breaches of fiduciary duty and other violations of law
by the Board of Directors of TEX. On August 11, 2015, the Company announced that its
Board of Directors unanimously approved a definitive merger of
equals whereby TEX and Konecranes will combine to create a single
company. Under the terms of agreement, TEX shareholders will
receive 0.80 shares of Konecranes for each TEX share owned.
This represents a consideration of $24.75 based on the August
7, 2015 closing price of Konecranes.
WeissLaw is investigating whether TEX's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, prior to the announcement, at least one analyst set a
price target of $35 per share, or
$10.25 above the offer price.
Additionally, the Company's shares traded for $29.32 as recently as May
21, 2015, or approximately $5.00 above the offer price.
Given these facts, WeissLaw is investigating the Board's
decision to sell TEX and whether TEX shareholders will obtain their
fair and proportionate share of the Company's continued success and
future growth prospects. If you own TEX shares and would like
more information about your rights or our investigation, or if you
have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or
by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP