TEREX SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of Terex Corp. (TEX) Over the Proposed Sale of the...
15 August 2015 - 1:06AM
Business Wire
Faruqi & Faruqi, LLP, a leading national
securities firm headquartered in New York City, is investigating
the Board of Directors of Terex Corporation
Faruqi & Faruqi, LLP, a leading national
securities firm headquartered in New York City, is investigating
the Board of Directors of Terex Corporation (“Terex” or the
“Company”) (NYSE:TEX) for potential breaches of fiduciary duties in
connection with the sale of the Company to Konecranes Plc for
approximately $4.2 billion in an all-stock transaction.
The Company’s stockholders will only 0.80
shares of Konecranes for each Terex share owned, or approximately
$28.80 per share based on the August 14, 2015 opening price of
Konecranes. However, the offer represents and inadequate premium
since it is even below the Wall Street median price target of
$29.00 per share. Additionally, the Company's shares traded for
$29.32 as recently as May 21, 2015.
Click here for more information:
www.faruqilaw.com/TEX. There is no cost or
obligation to you.
The investigation focuses on whether Terex’s
Board of Directors breached their fiduciary duties to the Company’s
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Terex’s shareholders.
Faruqi & Faruqi, LLP is a national law firm
which represents investors and individuals in class action
litigation. The firm is focused on providing exemplary legal
services in complex litigation in the areas of securities,
shareholder, antitrust and consumer litigation, throughout all
phases of litigation. The firm has an experienced trial team which
has achieved significant victories on behalf of the firm’s clients.
To keep track of the latest securities litigation news, follow us
on Twitter at www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
If you own common stock in Terex and wish to
obtain additional information and protect your investments free of
charge, please visit us at www.faruqilaw.com/TEX or contact Juan E.
Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or
by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2015 Faruqi &
Faruqi, LLP. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not
guarantee or predict a similar outcome with respect to any future
matter. We are happy to discuss your particular case.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150814005458/en/
Faruqi & Faruqi, LLP369 Lexington Avenue,
10th FloorNew York, NY 10017Attn: Juan E. Monteverde,
Esq.jmonteverde@faruqilaw.comToll Free: (877) 247-4292Phone: (212)
983-9330
Terex (NYSE:TEX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Terex (NYSE:TEX)
Historical Stock Chart
From Apr 2023 to Apr 2024