An investigation on behalf of investors of Sparton Corporation (NYSE: SPA) in connection with the proposed takeover was announced and NYSE: SPA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2018 -- An investigation was announced over the acquisition of Sparton Corporation.
Investors who purchased shares of Sparton Corporation (NYSE: SPA) and currently hold any of those NYSE: SPA 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 Sparton Corporation breached their fiduciary duties owed to NYSE: SPA investors in connection with the proposed acquisition.
Schaumburg, IL based Sparton Corporation, together with its subsidiaries, provides design, development, and manufacturing services for electromechanical devices; and engineered products in electromechanical value stream worldwide.
On December 12, 2018, Sparton Corporation (NYSE:SPA) announced that it has entered into a definitive agreement to be acquired by an affiliate of Cerberus Capital Management, L.P. ("Cerberus"), a global leader in alternative investing. Under the terms of the agreement, Cerberus will acquire all outstanding shares of Sparton's common stock for $18.50 per share in cash.
However, given that at least one analyst has set the high target price for NYSE: SPA shares at $23.50 per share, the investigation concerns whether the offer is unfair to NYSE: SPA stockholders. More specifically, the investigation concerns whether the Sparton 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.
Shares of Sparton Corporation (NYSE: SPA) closed on December 17, 2018, at $18.38 per share.
Those who are current investors in Sparton Corporation (NYSE: SPA) 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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