The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of URS Corp (NYSE:URS) shares, was launched concerning whether the takeover of URS Corp by AECOM Technology Corporation is unfair to NYSE:URS stockholders.
Investors who purchased shares of URS Corp (NYSE:URS) and currently hold any of those NYSE:URS shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of URS Corp breached their fiduciary duties owed to NYSE:URS investors in connection with the proposed acquisition.
On July 13, 2014, AECOM Technology Corporation (NYSE:ACM) and URS Corporation (NYSE:URS) announced the execution of an agreement under which AECOM Technology Corporation will acquire all outstanding shares of URS Corporation for a combination of cash and stock valued at approximately US$4 billion or US$56.31 per URS share, based on the AECOM closing share price as of July 11, 2014.
However, the investigation concerns whether the offer is unfair to NYSE:URS stockholders. More specifically, the investigation concerns whether the URS 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.
URS Corp reported that its Total Revenue rose from over $9.54 billion for the 52 weeks period that ended on Dec. 30, 2011 to over $10.97 billion for the 52 weeks period that ended on Dec. 28, 2012, respectively over $10.99 billion for the 53 weeks period that ended on Jan. 3, 2014 and that its Net Loss of $42.90 million for for the 52 weeks period that ended on Dec. 30, 2011 turned into a Net Income of $310.60 million for the 52 weeks period that ended on Dec. 28, 2012, respectively $247.20 million for the 53 weeks period that ended on Jan. 3, 2014.
Shares of URS Corp (NYSE:URS) grew from $33.35 per share in October 2012 to as high as $55.10 per share in October 2013.
On July 18, 2014, NYSE:URS shares closed at $58.85 per share.
Those who are current investors in URS Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego