STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Polypore International, Inc. (“Polypore” or the “Company”)
(NYSE: PPO) relating to the proposed buyout of the Company by Asahi
Kasei Corp. (“Asahi Kasei”).
On February 23, 2015, Polypore announced that it had agreed to be sold
in a two-part, all cash deal valued at $3.2 billion. Under the terms of
the transaction, Asahi Kasei, will purchase the Company for $60.50 per
share in cash. As an integrated step in this transaction, immediately
prior to Asahi Kasei’s acquisition of Polypore, 3M Company will acquire
the assets of Polypore’s Separations Media segment for approximately
$1.0 billion and Asahi Kasei will receive the cash proceeds from the
asset sale. The definitive agreements require that the closings of the
transactions are conditioned upon one another.
The firm’s investigation seeks to determine, among other things, whether
the Company’s Board of Directors failed to satisfy their duties to
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. In particular,
according to Yahoo! Finance, at least one Wall Street analyst has
issued a price target for Polypore stock at $62.00 per share.
If you currently own common stock of Polypore and would like to learn
more about the investigation being conducted by Brower Piven, without
cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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