Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Sale of Pacer International, Inc. to XP...
January 06 2014 - 9:17AM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of Pacer
International, Inc. (Nasdaq: PACR) breached their fiduciary duties
in connection with the planned sale of the Company to XPO
Logistics, Inc. (NYSE: XPO). Pacer International, Inc. provides
transportation and logistics services primarily in North America,
Asia, Europe, Australia, South America, and Africa.
On January 6, 2014 Pacer International and XPO announced that
they had entered into a definitive agreement. Under terms of the
transaction, Pacer’s shareholders will receive $6.00 in cash and $3
of XPO common stock for each Pacer share owned, or approximately
$335 million. Just last month the stock traded as high as $9.23
and at least one analyst has issued a price target for Pacer
International stock at $10.00 per share.
The investigation concerns whether Pacer’s board members failed
to satisfy their duties to the Company’s shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock.
If you are a Pacer International shareholder and would like
additional information concerning your legal rights, please contact
lead analyst Jim Baker (jimb@johnsonandweaver.com) at
619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California and New York. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext.
118jimb@johnsonandweaver.com
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