The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Spartech Corp.(“Spartech”) (NYSE: SEH) and other violations of state law by the board of directors of Spartech relating to the proposed acquisition of the company by PolyOne Corporation (“PolyOne”). The firm’s investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.
On October 24, 2012, Spartech and PolyOne announced that they have entered into a definitive agreement providing for PolyOne to acquire Spartech for $393 million (including the assumption of debt). Under the terms of the merger agreement, Spartech shareholders will receive $2.67 per share in cash and 0.3167 shares of PolyOne common stock for each share of Spartech common stock held.
If you currently own shares of Spartech and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.