Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Bucyrus International Inc. (“Bucyrus” or the “Company”) (NASDAQ: BUCY) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Caterpillar Inc. (NYSE: CAT). The proposed transaction offers Bucyrus shareholders to only receive $92 per share in cash. According to Yahoo! Finance, at least one financial analyst values Bucyrus’ common stock at $95 per share. The transaction is valued at $7.6 billion and is expected to close in mid-2011.
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Whether the Bucyrus’s Board of Directors breached their fiduciary duties to Bucyrus’ stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Bucyrus’ shares and by how much this proposed transaction undervalues the Company to the detriment of Bucyrus shareholders are the key focus of this investigation.
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If you own common stock in Bucyrus and wish to obtain additional information, please visit us at
or contact Juan E. Monteverde, Esq. either via e-mail at
or by telephone at (877) 247-4292 or (212) 983-9330.
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