Block & Leviton LLP Investigates Sauer-Danfoss Inc. for Possible Breaches of Fiduciary Duty in Connection With Danfoss A/S Recent Tender Offer
BOSTON, Nov. 29, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of Sauer-Danfoss Inc. ("Sauer-Danfoss" or the "Company") (NYSE: SHS) with regards to their recently announced tender offer by Danfoss A/S ("Danfoss").
Sauer-Danfoss announced on November 28, 2012 that it has received notice from Danfoss of its intention to launch a tender offer to acquire all of the outstanding shares of Sauer-Danfoss at a price of $49.00 per share in cash. Danfoss and its subsidiaries currently own approximately 75.6% of the outstanding shares of Sauer-Danfoss. Block & Leviton's investigation seeks to determine, among other things, whether Sauer-Danfoss' Directors breach their fiduciary duties by failing to maximize shareholder value in the proposed transaction and the process by which the Sauer-Danfoss' Directors consider the proposal.
Sauer-Danfoss' stock, on the first day of trading after the announcement, shot above the offer price by nearly 5%. Sauer-Danfoss' 52 week high is over 10% more than the price of the proposed tender offer and it traded above the proposed price as recently as March 28, 2012.
If you are a Sauer-Danfoss shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, Esq. at (617) 398-5600 or email him at Steven@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years. This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
SOURCE Block & Leviton LLP