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 firstname.lastname@example.org, 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts