Challenge the Buyout: Ademi & O’Reilly, LLP Investigates Whether Blount International, Inc. Has Obtained a Fair Price in Its Sale to Affiliates of American Securities LLC and P2 Capital Partners, LLC
MILWAUKEE, Dec. 10, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Blount for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Blount to American Securities and P2 Capital.
Click here to learn how to join the action: http://www.ademilaw.com/case/blount or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Blount’s long-term financial outlook is improving and yet Blount shareholders will receive only $10 per share. American Securities and P2 Capital are well aware of Blount’s improving financial metrics and are purchasing Blount at a substantial discount. The purchase agreement unreasonably limits prospective bids for Blount by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Blount receive and accept a superior bid. Blount insiders, their affiliates and other majority shareholders own significant voting stock, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of Blount not in the best interests of non-insiders. Our investigation centers on the conduct of Blount’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Blount given its current financial condition and prospects.
If you own common shares or limited partnership units in Blount and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://www.ademilaw.com/case/blount.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Ademi & O’Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
