MATERIAL SCIENCES CORPORATION INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Material Sciences Corporation (MASC) Over the Proposed Sale of the Company to Zink Acquisition Holdings Inc.
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 Material Sciences Corporation (“MSC” or the “Company”) (NASDAG: MASC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Zink Acquisition Holdings Inc. and Zink Acquisition Merger Sub Inc., which are affiliates of New Star Metals Inc. and Insight Equity Holdings LLC. This is a cash deal valued at approximately $139 million. Under the terms of the proposed transaction, MSC’s stockholders will receive $12.75 for each share of MSC common stock they own. However, according to Yahoo! Finance, MSC’s book value per share plus cash per share is $13.25, approximately 4% higher than the amount MSC’s stockholders will receive.
The investigation focuses on whether MSC’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 MSC’s shareholders.
If you own common stock in Material Sciences Corporation 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.
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