|By PR Newswire||
|January 9, 2014 02:40 PM EST||
NEW YORK, Jan. 9, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, is investigating the acquisition of Material Sciences Corp. ("Material Sciences" or "the Company") (MASC) by New Star Metals Inc. and Insight Equity Holdings LLC, a private equity firm. Under the terms of the proposed transaction, Material Sciences shareholders will receive $12.75 for each share of Material Sciences stock they own.
The investigation concerns whether the board of directors of Material Sciences breached their fiduciary duties by not engaging in a full and fair process to insure that shareholders received the maximum value for their shares, while, at the same time, seeking personal benefits for their own self-interests. Indeed, analysts have projected that the stock of Material Sciences is worth at least $13 per share. In addition, the company has no debt and has over $38 million in cash on its books or $3.73 per share. Further, the book value alone of the company is worth at least $9.52 per share.
If you are a shareholder of Material Sciences and would like additional information regarding this matter, at no cost or expense, please contact us at:
Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in mergers and takeovers, and has assisted in the recovery of millions of dollars for shareholders around the globe. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC