PENFORD (PENX) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Penford Corporation
15 October 2014 - 11:45PM
Business Wire
Andrews & Springer LLC, a boutique securities class
action law firm focused on representing shareholders nationwide, is
investigating potential breach of fiduciary duty claims against the
Board of Directors of Penford Corporation (NASDAQ: PENX) (“Penford”
or the “Company”) relating to the sale of the Company to Ingredion
Incorporated (“Ingredion”). On October 15, 2014, the two companies
announced the signing of a definitive merger agreement pursuant to
which Ingredion will acquire Penford in a merger in a deal worth
$340 million. As a result of the merger, Penford shareholders are
only anticipated to receive $19 per share in cash in exchange for
each share of Penford.
Andrews & Springer is also investigating whether Penford
directors are breaching their fiduciary duties by failing to
adequately shop the company and maximize shareholder value.
Additionally, our firm is also investigating the Company’s
financial advisor, Deutsche Bank, and whether Deutsche Bank
conducted a fair sales process. Andrews & Springer’s
investigation has so far uncovered that the process leading up to
the announcement of the merger appears to contain certain conflicts
of interest, thus making the process and consideration unfair.
If you own shares of Penford and want to receive additional
information and protect your investments free of charge, please
visit us at
http://www.andrewsspringer.com/cases-investigations/PENX or contact
Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or
call toll free at 1-800-423-6013. You may also follow us on
LinkedIn – www.linkedin.com/company/andrews-&-springer-llc,
Twitter – www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
Andrews & Springer LLCCraig J. Springer, Esq.,
1-800-423-6013cspringer@andrewsspringer.com
(MM) (NASDAQ:PENX)
Historical Stock Chart
From Jun 2024 to Jul 2024
(MM) (NASDAQ:PENX)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about (MM) (NASDAQ): 0 recent articles
More Penford Corp. (MM) News Articles