Kirby McInerney LLP is investigating potential claims against the Board of Directors of Titanium Metals Corporation (“Titanium Metals” or the “Company”) (NYSE: TIE) related to the proposed acquisition of the Company by Precision Castparts Corp. (NYSE: PCP). Under the terms of the agreement, Precision Castparts will commence a tender offer by November 20, 2012 to acquire all of the outstanding common stock of Titanium Metals for $16.50 per share in cash, for a total enterprise value of approximately $2.9 billion.
The investigation concerns whether the Titanium Metals Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $16.50 per share consideration adequately values Titanium Metals common shares. The median analyst price target for the Company’s shares is $17.00 per share, and at least one analyst has set a price target of $20.00 per share – 21% above the proposed acquisition price.
If you are a Titanium Metals shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at email@example.com, or by telephone at (212) 699-1145 or (888) 529-4787.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmslaw.com.