POLYPORE INTERNATIONAL (PPO) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Polypore Int...
February 23 2015 - 8:04AM
Business Wire
Andrews & Springer LLC, a boutique securities class
action law firm focused on representing shareholders nationwide, is
investigating potential breach of fiduciary duty claims against the
Board of Directors of Polypore International, Inc. (NYSE: PPO)
(“Polypore” or the “Company”) relating to the sale of the Company
to Asahi Kasei Corporation (“Asahi”). On February 23, 2015, the two
companies announced the signing of a definitive merger agreement
pursuant to which Asahi will acquire Polypore in a two-step deal
worth $3.2 billion. Immediately prior to Asahi’s acquisition of
Polypore, the Company is expected to sell its Separations Media
business to 3M Company for $1 billion. As a result of Asahi’s
acquisition, however, Polypore shareholders are only anticipated to
receive $60.50 per share in cash in exchange for each share of
Polypore.
Our investigation so far has revealed that the consideration
Polypore shareholders are expected to receive is inadequate.
Polypore shareholders will not be receiving any consideration from
the sale of Polypore’s Separations Business to 3M. While the
Company claims that shareholders will receive a premium for their
shares in the merger with Asahi, analysts at Yahoo! Finance have
set a $62.00 per share price target for Polypore, $2.00 more than
what Polypore shareholders are expected to receive when the merger
closes.
If you currently own shares of Polypore and want to receive
additional information and protect your investments free of charge,
please visit us at
http://www.andrewsspringer.com/cases-investigations/PPO or contact
Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or
call toll free at 1-800-423-6013. You may also follow us on
LinkedIn – www.linkedin.com/company/andrews-&-springer-llc,
Twitter – www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice constitutes Attorney
Advertising.
Andrews & Springer LLCCraig J. Springer, Esq.Call Toll Free:
1-800-423-6013cspringer@andrewsspringer.com