INTEGRYS ENERGY INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Integrys Energy Group, Inc. (TEG) Over the Proposed Sale of the Company to Wisconsin Energy Corp. (WEC)
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 Integrys Energy Group, Inc. (“Integrys” or the “Company”) (NYSE: TEG) for potential breaches of fiduciary duties in connection with the sale of the Company to Wisconsin Energy Corp. (NYSE: WEC) (“Wisconsin”) for approximately $5.7 billion of cash and stock. The Company’s stockholders will receive $18.58 in cash and 1.128 Wisconsin shares per share of Integrys, totaling $71.47 per share based on Wisconsin’s closing price on June 20, 2014. However, Wisconsin’s stock price opened 2.6 percent lower on June 23, 2014, after news of the deal had been made public.
The investigation focuses on whether Integrys’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Integrys’ shareholders.
If you own common stock in Integrys 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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