This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Imperial Sugar Co. Buyout Investigated By The Securities Attorneys At The Briscoe Law Firm And Powers Taylor, LLP

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Imperial Sugar Company (“Imperial Sugar” or “IPSU”) (NASDAQ: IPSU) to Louis Dreyfus Commodities, LLC for shareholders. Under the proposed buyout, IPSU shareholders will receive only $6.35 in cash for each share of IPSU stock owned, well below analysts target price of $20.00 per share.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

Under the definitive merger agreement, Louis Dreyfus will acquire Imperial Sugar through a cash tender offer and a second step merger at $6.35 per share. The transaction is valued at approximately $203 million and is expected to close in the second quarter of 2012.

The investigation centers on whether Imperial Sugar shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Imperial Sugar’s stock, and whether Imperial Sugar’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Although the proposed acquisition price represents a premium over the closing price of Imperial Sugar shares the day before the merger announcement, it is still well below the 52 week high of $25.68 per share. Further, at least one analyst with Yahoo! Finance has estimated that the true inherent value of Imperial Sugar shares could be as high as $20.00 per share. According to shareholder rights attorney Willie Briscoe, "Based on the lack of a significant premium to Imperial Sugar shareholders, and other factors, the firms are investigating whether the buyout price is fair to Imperial Sugar shareholders. Our proposed shareholder lawsuit seeks to obtain additional value for shareholders than what is proposed in the current buyout offer."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs