An investigation on behalf of investors of Polypore International, Inc. (NYSE:PPO) in connection with the proposed takeover was announced and NYSE:PPO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/25/2015 -- An investigation on behalf of investors, who currently hold shares of Polypore International, Inc. (NYSE:PPO), was announced concerning whether the takeover of Polypore International, Inc. by Asahi Kasei Corporation for $60.50 per share is unfair to NYSE:PPO stockholders.
Investors who purchased shares of Polypore International, Inc. (NYSE:PPO) and currently hold any of those NYSE:PPO shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Polypore International, Inc. breached their fiduciary duties owed to NYSE:PPO investors in connection with the proposed acquisition.
On February 23, 2015 Polypore International, Inc. (NYSE:PPO) announces that it has signed agreements for the sale of the Company. In the merger agreement, Asahi Kasei Corporation, through a U.S. subsidiary, will purchase Polypore International, Inc. (NYSE:PPO) for $60.50 per share in cash.
However, given that at least one analyst has set the high target price for NYSE:PPO shares at $62.00 per share, the investigation concerns whether the offer is unfair to NYSE:PPO stockholders. More specifically, the investigation concerns whether the Polypore International Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Polypore International, Inc. reported that its Total Revenue declined from $648.70 million for the 52 weeks period that ended on December 29, 2012 to $636.28 million for the 52 weeks period that ended on December 28, 2013 and that its respective Net Income increased from $70.95 million to $81.61 million. Shares of Polypore International, Inc. (NYSE:PPO) grew from $30.01 per share in February 2014 to $53.68 per share in November 2014.
On February 23, 2015, NYSE:PPO shares closed at $59.70 per share.
Those who are current investors in Polypore International, Inc. (NYSE:PPO) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com