An investigation on behalf of investors of Milacron Holdings Corp. (NYSE: MCRN) in connection with the proposed takeover was announced and NYSE: MCRN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/23/2019 -- An investigation was announced over whether the takeover of Milacron Holdings Corp. is unfair to NYSE: MCRN stockholders.
Investors who purchased shares of Milacron Holdings Corp. (NYSE: MCRN) and currently hold any of those NYSE: MCRN shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Milacron Holdings breached their fiduciary duties owed to NYSE: MCRN investors in connection with the proposed acquisition.
Cincinnati, OH based Milacron Holdings Corp. manufactures, distributes, and services engineered and customized systems within the plastic technology and processing industry in the United States and internationally.
On July 12, 2019, Hillenbrand, Inc. (NYSE: HI) and Milacron Holdings Corp. (NYSE: MCRN) announced that they have entered into an agreement under which Hillenbrand, Inc. will acquire Milacron Holdings Corp. (NYSE: MCRN) in a cash and stock transaction valued at approximately $2 billion, including net debt of approximately $686 million as of March 31, 2019. Under the terms of the agreement, Milacron Holdings Corp. (NYSE: MCRN) stockholders will receive $11.80 in cash and a fixed exchange ratio of 0.1612 shares of Hillenbrand common stock for each share of Milacron Holdings Corp. (NYSE: MCRN) common stock they own. Based on Hillenbrand's closing stock price on July 11, 2019, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Milacron Holdings Corp. (NYSE: MCRN) stockholders is $18.07 per share
However, given that at least one analyst has set the high target price for NYSE: MCRN shares at $19.00 per share and given that NYSE: MCRN shares traded in September 2018 in the open market as high as $21.93 per share, the investigation concerns whether the offer is unfair to NYSE: MCRN stockholders. More specifically, the investigation concerns whether the Milacron Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Milacron Holdings Corp. reported that its annual Total Revenue rose from over $1.23 billion in 2017 to over $1.25 billion in 2018 and that its Net Income increased from $1.1 million in 2017 to $41.50 million in 2018.
Shares of Milacron Holdings Corp. (NYSE: MCRN) closed on July 20, 2019 at $ per share.
Those who are current investors in Milacron Holdings Corp. (NYSE: MCRN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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