Wolf Haldenstein Announces Investigation of the Acquisition of Texas Industries, Inc.
31 Janeiro 2014 - 7:54PM
Business Wire
Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf
Haldenstein”), a leading securities law firm, announces that it is
investigating the acquisition of Texas Industries, Inc. (“TXI” or
“the Company”) (NYSE:TXI). The Company recently announced that it
has entered into a definitive merger agreement to be acquired by
Martin Marietta Materials, Inc. (“MLM”) (NYSE: MLM). Wolf
Haldenstein’s investigation concerns potential legal claims against
the Board of Directors of TXI for possible breaches of fiduciary
duties and other violations of law related to the Company’s entry
into this merger agreement.
The terms of the deal call for TXI shareholders to receive .7
MLM shares against every TXI share they own. Based on the closing
price of MLM stock on January 27, 2014, this represents a value of
approximately $71.95 per share, giving the entire transaction a
total approximate value of $2.7 billion. Wolf Haldenstein is
investigating whether or not the TXI Board of Directors acted in
the Company’s shareholders’ best interests by adequately shopping
the Company to get the best possible value. The $71.95 per share
price that the merger agreement with MLM represents is
significantly less than, for example, the price target for TXI
stock of $80.00 per share set by at least one analyst on
Bloomberg.
Wolf Haldenstein has represented individual and institutional
investors for many years, serving as lead counsel in numerous cases
in United States federal and state courts. Please visit the Wolf
Haldenstein website (http://www.whafh.com) for more information
about the firm.
If you are a shareholder of Texas Industries, Inc. and would
like additional information as to how the acquisition may affect
your rights as a shareholder, please contact us at:
Gregory M. NespoleWolf Haldenstein Adler Freeman & Herz
LLP270 Madison AvenueNew York, New York 10016
Phone Numbers:(800) 575-0735(212) 545-4600
Please visit the Wolf Haldenstein website (http://www.whafh.com)
for more information about the firm.
Email:Classmember@whafh.com, Nespole@whafh.com, or stone@whafh.com and please reference “Texas
Industries, Inc. Investigation.”
Attorney Advertising. Prior results do not guarantee or predict
a similar outcome.
Wolf Haldenstein Adler Freeman & Herz LLPGregory M. Nespole,
800-575-0735212-545-4600Nespole@whafh.com
Texas Industries (NYSE:TXI)
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