|[July 22, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Rockwood Holdings Inc. In Connection With The Proposed Sale Of The Company
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 Rockwood Holdings, Inc. ("Rockwood" or the "Company")
(NYSE: ROC) relating to the proposed buyout of the Company by Albemarle
On July 15, 2014, Rockwood and Albemarle announced that they had entered
into a definitive agreement pursuant to which Albemarle will acquire all
outstanding shares of Rockwood in a cash and stock transaction valued at
approximately $6.2 billion.
Under the terms of the transaction, shareholders of Rockwood would
receive $50.65 in cash and 0.4803 shares of Albemarle for each share of
Rockwood they own. Based on Albemarle's uly 14, 2014 closing stock
price, Rockwood shareholders would have received consideration valued at
approximately $85.53 per share.
According to Yahoo! Finance, at least one analyst has issued a
price target for Rockwood stock at $93.00 per share.
The firm's investigation seeks to determine, among other things, whether
the Company's board of directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into this
transaction, and whether Albemarle is underpaying for Rockwood shares.
If you currently own common stock of Rockwood 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 email@example.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.
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