NEW YORK, Nov. 7, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Metaldyne
Performance Group Inc. ("MPG" or the "Company") in connection with
the proposed acquisition of the Company by American Axle &
Manufacturing Holdings, Inc. ("AXL"). On November 3, 2016, MPG and AXL announced that a
definitive agreement for AXL to acquire all outstanding shares of
MPG in a cash-and-stock transaction valued at approximately
$3.3 billion, including the
assumption of $1.7 billion in net
debt. Under the terms of the agreement, MPG shareholders will
receive 0.5 of an AXL share and $13.50 in cash for each MPG share, representing
consideration of $20.32 per MPG share
based on AXL's November 4 closing
price.
WeissLaw is investigating whether MPG's Board acted to maximize
shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price of
$21.00 per share. Additionally,
the offer price is also $2.31 lower
than MPG's 52-week high of $22.63.
Given these facts, WeissLaw is investigating the Board of
Directors' decision to sell MPG and whether MPG shareholders will
obtain their fair and proportionate share of the Company's
continued success and future growth prospects. If you own MPG
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal
advice concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website, http://www.weisslawllp.com/contact-us/.
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SOURCE WeissLaw LLP