Bucyrus International Shareholder Investigation by Briscoe Law Firm Concerning the Acquisition by Caterpillar, Inc.
November 15 2010 - 1:39PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Bucyrus International, Inc. (“Bucyrus” or “BUCY”) (NASDAQ: BUCY)
related to the proposed acquisition of Bucyrus by Caterpillar,
Inc.
The definitive acquisition agreement, which was announced on
November 15, 2010, involves a transaction valued at approximately
$8.6 billion. Under the proposed acquisition, Bucyrus shareholders
will receive a cash payment of $92 for each share of Bucyrus/BUCY
common stock they hold.
The investigation involves whether the Board of Directors of
Bucyrus breached their fiduciary duties to Bucyrus stockholders by
failing to adequately shop the proposed merger before agreeing to
enter into the transaction and whether Bucyrus has disclosed all
material information to shareholders about the proposed
transaction. Indeed, at least one analyst has set a target price at
$95.00 per share. Based on this, and other factors, the proposed
transaction may undervalue Bucyrus/BUCY shares and not be fair to
Bucyrus shareholders.
If you currently own shares of Bucyrus/BUCY and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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