Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of Westway Group, Inc. (WWAY)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Westway Group, Inc. (“Westway” or the “Company”) (NASDAQ: WWAY) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to an affiliate of EQT Infrastructure II in an all-cash deal valued at approximately $419 million. Under the terms of the proposed transaction, Westway’s stockholders will receive $6.70 in cash for each share of Westway common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $7.00 for Westway. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
The investigation focuses on whether Westway’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 Westway’s shareholders.
If you own common stock in Westway and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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