WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Metaldyne Performance Group Inc. (“MPG” or the “Company”) in connection with the proposed acquisition of the Company by American Axle & Manufacturing Holdings, Inc. (“AXL”). On November 3, 2016, MPG and AXL announced that a definitive agreement for AXL to acquire all outstanding shares of MPG in a cash-and-stock transaction valued at approximately $3.3 billion, including the assumption of $1.7 billion in net debt. Under the terms of the agreement, MPG shareholders will receive 0.5 of an AXL share and $13.50 in cash for each MPG share, representing consideration of $20.32 per MPG share based on AXL’s November 4 closing price.
WeissLaw is investigating whether MPG’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $21.00 per share. Additionally, the offer price is also $2.31 lower than MPG’s 52-week high of $22.63.
Given these facts, WeissLaw is investigating the Board of Directors’ decision to sell MPG and whether MPG shareholders will obtain their fair and proportionate share of the Company’s continued success and future growth prospects. If you own MPG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact-us/.