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SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of Penford Corporation And Encourages Investors To Contact The Firm For Additional InformationSTEVENSON, 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 Penford Corporation ("Penford" or the "Company") (Nasdaq: PENX) relating to the proposed buyout of the Company by Ingredion Incorporated ("Ingredion"). On October 15, 2014, Penford and Ingredion announced the signing of a definitive merger agreement pursuant to which Ingredion will acquire Penford in a transaction valued at approximately $340 million in the aggregate. Under the terms of the transaction, Penford shareholders will receive $19.00 per share in cash for each share of Penford common stock they own. The transaction could close s early as the end of 2014, though Penford shareholders will most likely be asked to vote on the transaction well before that time. The firm's investigation seeks to determine, among other things, whether Penford's Board of Directors failed to satisfy their duties to the Company's 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. If you currently own common stock of Penford 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 protected] 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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