Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Buckeye Technologies Inc. (BKI)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Buckeye Technologies Inc. (“Buckeye” or the “Company”) (NYSE: BKI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Georgia-Pacific LLC in a deal valued at approximately $1.5 billion. Under the terms of the proposed transaction, Buckeye’s stockholders will receive $37.50 for each share of Buckeye common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $38.00 for Buckeye. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
The investigation focuses on whether Buckeye’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Buckeye’s shareholders.
If you own common stock in Buckeye and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.