SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Texas Industries, Inc. In Connection With The Proposed Sale Of...
03 Junho 2014 - 4:38PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of
Texas Industries, Inc. (“TXI” or the “Company”) (NYSE: TXI) and
other violations of state law by the board of directors of TXI
relating to the proposed buyout of the Company by Martin Marietta
Materials, Inc. (“MLM”).
Under the terms of the transaction, TXI shareholders will
receive 0.7 shares of MLM for each share of TXI common stock they
own. Based on the closing price of MLM stock on January 27, 2014,
this represents a value of approximately $71.95 per share.
According to Yahoo! Finance, at least one analyst following TXI has
set a target price of $90.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s board of directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into this transaction, and whether MLM is underpaying for TXI
shares.
If you currently own common stock of TXI and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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