Law Firm Kirby McInerney LLP Investigating Potential Claims On Behalf Of Titanium Metals Corporation Shareholders
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...
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.
The ex-dividend date for Titanium Metals Corporation (NYSE:TIE) is tomorrow, December 5, 2012. Owners of shares as of market close today will be eligible for a dividend of 8 cents per share. At a price of $16.53 as of 9:30 a.m., the dividend yield is 1.8%.