Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Met-Pro Corporation (MPR)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Met-Pro Corporation (“Met-Pro” or the “Company”) (NYSE: MPR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to CECO Environmental Corp. (“CECO”) (NasdaqGM: CECE) in a cash and stock transaction valued at a total of approximately $210 million, or $13.75 per share, based on Met-Pro’s share price as of the close on April 19, 2013. The consideration includes $7.25 per share in cash and $6.50 per share in CECO common stock. Under the terms of the proposed transaction, Met-Pro's shareholders may elect to exchange each share of Met-Pro common stock for either $13.75 in cash and/or shares of CECO common stock having an equivalent value based on the volume weighted average trading price of CECO common stock for the 15-trading day period ending on the date immediately preceding the closing of the acquisition, subject to a collar.
The investigation focuses on whether Met-Pro’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 Met-Pro’s shareholders.
If you own common stock in Met-Pro 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
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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