NEW YORK, Aug. 10, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Precision Castparts Corp. ("PCP" or the "Company") by Berkshire Hathaway Inc. ("Berkshire") is the subject of an investigation by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of PCP for agreeing to sell the Company to Berkshire. On August 10, 2015, the Company announced it had reached a definitive agreement for Berkshire to acquire PCP in a transaction valued at approximately $37.2 billion. Under the terms of the agreement, PCP shareholders will receive $235.00 for each PCP share they own.
WeissLaw is investigating whether PCP's Board acted to maximize shareholder value. Notably, analysts have set a target price of $252.00 per PCP share, or $17.00 above the offer price. Additionally, the offer price represents a mere 5.8% premium over the Company's May 22, 2015 trading price of $221.91.
Given these facts, WeissLaw is investigating whether PCP's Board acted in the best interests of PCP's public shareholders by actively shopping the Company to maximize shareholder value. If you own PCP shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
SOURCE WeissLaw LLP