An investor, who currently holds shares of Multi Packaging Solutions International Ltd (NYSE:MPSX), filed a lawsuit in effort to halt the proposed buyoutof Multi Packaging Solutions International Ltd.
Investors who purchased shares of Multi Packaging Solutions International Ltd (NYSE:MPSX) and currently hold any of those NYSE:MPSX shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:MPSX stockholders by agreeing to sell Multi Packaging Solutions International Ltd too cheaply via an unfair process to WestRock Company
On January 24, 2017, WestRock Company (NYSE:WRK) and Multi Packaging Solutions International Ltd (NYSE:MPSX) announced today that a definitive agreement has been reached for WestRock to acquire all of the outstanding shares of MPS for $18.00 per share in cash and the assumption of an estimated $873 million in net debt, for a total enterprise value of $2.28 billion.
However, plaintiff claims that the proposed consideration NYSE:MPSX shareholders will receive is grossly inadequate and undervalues Multi Packaging Solutions International Ltd. The plaintiff says that the proposed transaction is designed to unlawfully divest MPS’s public stockholders of the company’s valuable assets without fully disclosing all material information concerning the proposed transaction to company stockholders. In addition, the plaintiff alleges that the process is also unfair NYSE:MPSX stockholders. Indeed, the two largest shareholders of MPS, representing approximately 57% of the shares outstanding, have already agreed to vote all of their shares in favor of the transaction.
Shares of Multi Packaging Solutions International Ltd (NYSE:MPSX) closed on March 20, 2017 at $17.86 per share.
Those who are current investors in NYSE:MPSX shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego