SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of The Board of Directors of Polypore International, Inc.
28 February 2015 - 2:10PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Polypore International, Inc. ("Polypore” or "the Company") (NYSE:
PPO) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to Asahi
Kasei Corporation. (“Asahi”).
Click here to learn more about the investigation
http://brodsky-smith.com/892-ppo-polypore-international-inc.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Polypore shareholders will
receive $60.50 in cash for each share of Polypore stock they own.
The investigation concerns whether the Board of Polypore breached
their fiduciary duties to stockholders by failing to adequately
shop the Company before agreeing to enter into this transaction,
and whether Asahi is underpaying for Polypore. Prior to the
completion of the transaction, 3M Company will acquire the assets
of Polypore’s Separations Media segment for approximately $1.0
billion, and Asahi will receive the cash proceeds from the
sale.
The transaction may undervalue Polypore and will result in a
loss for many long term Polypore shareholders. Polypore stock has
traded as high as $72.00 per share. Consequently, an analyst has
placed a $62.00 per share price target on Polypore stock and it has
been reported that an analyst has also indicated that he thinks
other bidders may be willing to top the price being paid by Asahi.
However, the deal has a $39 million breakup fee which could hinder
a topping offer from being received.
If you own shares of Polypore common stock and wish to discuss
the legal ramifications of the investigation, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 510, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/892-ppo-polypore-international-inc.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquireinvestorrelations@brodsky-smith.comhttp://brodsky-smith.com/892-ppo-polypore-international-inc.html
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