SAN DIEGO, Nov. 21, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Headwaters Incorporated (NYSE: HW) breached their fiduciary duties in connection with the proposed sale of the Company to Boral Limited. Headwaters is a provider of products and services to the building and construction materials sector primarily in the United States and Canada.
On November 20, 2016, Headwaters announced it had signed a definitive merger agreement with Boral. Under the terms of the agreement, Boral will acquire all of the outstanding shares of Headwaters common stock for $24.25 per share in cash.
The investigation concerns whether the Headwaters board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Headwaters shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of Headwaters and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471.
About Johnson & Weaver, LLP: Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.