Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of Titanium Metals Corporation (TIE)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Titanium Metals Corporation (“Titanium” or the “Company”) (NYSE: TIE) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Precision Castparts Corp. (NYSE: PCP) in an all-cash deal valued at approximately $2.9 billion. Under the terms of the proposed transaction, Titanium’s stockholders will receive $16.50 in cash for each share of Titanium’s common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $20 for Titanium. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote. The time is of the essence since the tender offer is to expire on December 19, 2012.
Furthermore, on November 20, 2012, the Company filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the S.E.C., which recommends that Titanium’s shareholders tender their shares to Precision without adequate disclosure of all material information.
The investigation focuses on whether Titanium’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 Titanium’s shareholders.
If you own common stock in Titanium 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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Juan E. Monteverde
Faruqi & Faruqi, LLP
369 Lexington Avenue 10th Floor
New York, NY 10017
Tel: (212) 983-9330
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