WeissLaw LLP: Polypore International, Inc. Acquisition By Asahi Kasei Corporation May Not Be In The Best Interest of PPO Shareholders
NEW YORK, Feb. 26, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Polypore International, Inc. ("PPO" or the "Company") by Asahi Kasei Corporation ("Asahi Kasei") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of PPO for agreeing to sell the Company to Asahi Kasei. On February 23, 2015, the Company announced a definitive agreement for Asahi Kasei to acquire PPO in a transaction valued at approximately $3.2 billion. Under the terms of the agreement, PPO shareholders will receive $60.50 in cash for each PPO share they own.
WeissLaw is investigating whether PPO's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a price target of $61.00 per share, or $0.50 above the offer price.
Given these facts, WeissLaw is investigating whether PPO's Board acted in the best interests of PPO's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Asahi Kasei. If you own PPO shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
Kelly Keenan
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
[email protected]
SOURCE WeissLaw LLP
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