|[January 06, 2014]
SHAREHOLDER ALERT: Investors in Pacer International, Inc. Are Encouraged To Contact Wolf Haldenstein
NEW YORK --(Business Wire)--
The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that
it is investigating the actions of the Board of Directors and senior
management of Pacer International, Inc. ("Pacer" or the "Company")
(NASDAQ: PACR) for potential breaches of fiduciary duties in connection
with the sale of the Company to XPO Logistics, Inc. Under the terms of
the proposed transaction, shareholders of Pacer will receive $6.00 in
cash and $3.00 of XPO Logistics common stock for each share of Pacer
common stock, subject to a price collar, for a total market value of
$335 million and a total enterprise value of $296 million.
The investigation concerns whether The Pacer Board of Directors breached
their fiduciary duties to stockholders by failing to consider all
available strategic alternatives and conduct a sufficiently diligent
process, and whether the proposed transaction undervalues the Company.
The offerrepresents a mere 8% premium to the Company's closing stock
price on January 3, 2014. Pacer stock traded as high as $9.23 within the
past two months, and at least one analyst assigned a $10.00 per share
price target for the Company, prior to the announcement. According to
the press release, substantially all of Pacer's executives have agreed
to continue to lead the Company's operations for XPO.
Wolf Haldenstein has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
for more information about the firm. For further information on this
Please contact us if you are a stockholder of Pacer International, Inc.
securities who purchased shares before January 6, 2014, and wish to
discuss this matter. There is no cost to stockholders.
Gregory M. Nespole, Esq.
Wolf Haldenstein Adler Freeman & Herz LLP
New York, New York 10016
Phone (News - Alert) Numbers:
[ Back To Technology News's Homepage ]