An investor in NYSE:CHMT shares filed a lawsuit in against the acquisition of Chemtura Corp. by LANXESS AG for $33.50 per share.
On September 25, 2016, Chemtura Corp announced that it has entered into an agreement pursuant to which LANXESS AG will acquire Chemtura Corp in a transaction valued at approximately $2.5 billion.
Investors who purchased shares of Chemtura Corp (NYSE:CHMT) and currently hold any of those NYSE:CHMT shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CHMT stockholders by agreeing to sell Chemtura Corp. too cheaply via an unfair process to LANXESS AG.
Under the terms of the agreement, Chemtura Corp (NYSE:CHMT) shareholders will receive $33.50 per share in cash for each outstanding share of common stock held.
However, plaintiff claims that the proposed consideration NYSE:CHMT shareholders will receive is grossly inadequate and undervalues Chemtura Corp. Indeed, at least one analyst has set the high target price for NYSE:CHMT shares at $35.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:CHMT stockholders.
On January 9, 2016, NYSE:CHMT shares closed at $33.15 per share.
Those who are current investors in NYSE:CHMT shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego