WeissLaw LLP: UTi Worldwide Inc. Acquisition by The DSV Group May Not Be In The Best Interests of UTIW Shareholder

NEW YORK, Oct. 13, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of UTi Worldwide Inc. ("UTIW" or the "Company") by The DSV Group 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 UTIW for agreeing to sell the Company to DSV.  On October 9, 2015, the Company announced it had reached a definitive agreement for DSV to acquire all outstanding shares of UTIW in a transaction valued at approximately $1.35 billion.  Under the terms of the agreement, UTIW shareholders will receive $7.10 in cash for each UTIW share they own. 

WeissLaw is investigating whether UTIW's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, analysts set a target price $13.00 per UTIW share, or approximately $6.00 above the offer price.  Additionally, UTIW shares traded at $10.25, or 44% above the offer price, as recently as June 24 of this year. 

Given these facts, WeissLaw is investigating whether UTIW's Board acted in the best interests of UTIW's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with DSV.  If you own UTIW 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 or Kelly Keenan by telephone at (888) 593-4771 or by email at [email protected].

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 [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.

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SOURCE WeissLaw LLP

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