WeissLaw LLP: RTI International Metals, Inc. Acquisition By Alcoa Inc. May Not Be In The Best Interest of RTI Shareholders
NEW YORK, March 10, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of RTI International Metals, Inc. ("RTI" or the "Company") by Alcoa Inc. ("Alcoa") 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 RTI for agreeing to sell to Alcoa. On March 9, 2015, the Company announced a definitive agreement for Alcoa to acquire RTI in a transaction valued at approximately $1.5 billion, with RTI shareholders to receive 2.8315 of an Alcoa share for each RTI share owned. This represents a consideration of $41.00 per share, based the Company's March 6, 2015 closing price of $27.28.
WeissLaw is investigating whether RTI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the offer price consists of no cash and undervalues the Company.
Given these facts, WeissLaw is investigating the Board's decision to sell RTI and whether RTI shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own RTI 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 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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SOURCE WeissLaw LLP
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