DRESSER-RAND SHAREHOLDER ALERT: Proposed Sale of Dresser-Rand Group Inc. under Investigation by Johnson & Weaver, LLP in Connection with the Proposed Sale of the Company to Siemens AG
Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Dresser-Rand Group Inc. (NYSE:DRC) breached their fiduciary duties in connection with the proposed sale of the Company to Siemens AG.
Dresser-Rand designs, manufactures, sells, and services rotating equipment solutions to the oil, gas, chemical, petrochemical, process, power generation, military, and other industries worldwide.
On September 21, 2014, Dresser-Rand announced it had signed a definitive agreement to be acquired by Siemens. Under the terms of the agreement, Siemens will acquire all outstanding shares of Dresser-Rand for $83.00 per share in an all-cash transaction valued at approximately $7.6 billion.
The investigation concerns whether Dresser-Rand’s board members failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition such as continuing on as an independent company and whether the board obtained the best price possible for the Company’s shares of common stock. Among other things, Johnson & Weaver is concerned that the $83.00 per share agreed to by Dresser-Rand’s board of directors does not adequately reflect the Company’s prospects in a thriving U.S. oil and gas market. Moreover, one Wall Street analyst has a $100 price target on the stock.
If you are a shareholder of Dresser-Rand and believe that the proposed buyout price is too low and you are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
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