An investigation for investors in NYSE:CLC shares was announced over the buyout of CLARCOR by Parker Hannifin Corporation for $83.00 per share.
Investors who purchased shares of CLARCOR Inc. (NYSE:CLC) and currently hold any of those NYSE:CLC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of CLARCOR breached their fiduciary duties owed to NYSE:CLC investors in connection with the proposed acquisition.
On December 1, 2016, Parker Hannifin Corporation (NYSE: PH) and CLARCOR Inc. (NYSE: CLC) announced that the companies have entered into an agreement under which Parker Hannifin Corporation will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. Under the terms of the agreement, Parker Hannifin Corporation will purchase all of the outstanding shares of CLARCOR for $83.00 per share in cash.
However, the investigation concerns whether the offer is unfair to NYSE:CLC stockholders. More specifically, the investigation concerns whether the CLARCOR Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Shares of CLARCOR Inc. (NYSE:CLC) closed on December 2, 2016 at $82.46 per share.
Those who are current investors in NYSE:CLC shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com