Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Hardinge Inc.
05 Fevereiro 2010 - 9:46PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Hardinge Inc. (“Hardinge” or the “Company”) (Nasdaq:HDNG) related
to the announcement by Industrias Romi S.A. (“Romi”) of its
all-cash offer to the board of directors of Hardinge to acquire all
of the Company’s outstanding shares. The proposed transaction is
valued at approximately $90 million.
Under the terms of the offer, Romi would acquire all of the
outstanding shares of Hardinge for $8.00 per share in cash. The
offer represents a premium of 46% to Hardinge's closing share price
on February 3, 2010, the last trading day prior to the public
disclosure of Romi's offer.
According to Romi’s announcement: “Hardinge has refused to enter
into any meaningful dialogue to explore the merits and potential
terms of the proposed transaction,” and on January 26, 2010, the
Company sent a letter rejecting the offer “without making any
effort to discuss the details of Romi’s proposal.”
The investigation concerns possible breaches of fiduciary duty
and other violations of law related to rejection of the offer by
the Hardinge board of directors.
If you own shares of Hardinge, Inc., if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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