Kirby McInerney LLP is investigating potential claims against the Board of Directors of EDAC Technologies Corp. (“EDAC” or the “Company”) (NASDAQ: EDAC) related to the proposed acquisition of the Company by GB Aero Engine LLC, an affiliate of Greenbriar Equity Group LLC. Under the terms of the agreement, GB Aero Engine LLC will acquire EDAC for $17.75 per share in cash pursuant to a cash tender offer and second step merger, valuing the Company at approximately $104.1 million.
The investigation concerns whether the EDAC Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $17.75 per share consideration adequately values EDAC shares. The offer price represents only a 19.8% premium over EDAC’s average closing price during the 30 trading days prior to March 15, 2013.
If you are an EDAC shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at email@example.com, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
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.kmllp.com