NEW YORK, Nov. 12, 2014 /PRNewswire/ -- Wolf Popper LLP is investigating claims on behalf of investors in Horizon Lines, Inc. (OTC: HRZL), concerning the proposed acquisition of Horizon by Matson, Inc. (NYSE: MATX). Horizon shareholders seeking more information about this acquisition are advised to contact Carl Stine at (212) 759-4600 or [email protected].
The investigation concerns whether the Horizon directors are breaching their fiduciary duties by failing to adequately maximize shareholder value. Under the terms of the merger agreement, Horizon shareholders will receive $0.72 in cash for each share of Horizon they own. The proposed transaction has an equity value of $69.2 million. However, the offer price is below Horizon's 52-week high of $1.12 per share and the termination fee of $17.1 million or 24.7% of the equity value is extremely high if the proposed transaction is not consummated and Horizon has to pay Matson for the termination.
Wolf Popper LLP has extensive experience representing investors in mergers and acquisition lawsuits and has successfully ensured that investors receive the maximum compensation. Twelve Wolf Popper attorneys were named Rising Stars or Super Lawyers in the 2014 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area. View Wolf Popper attorney biographies at www.wolfpopper.com.
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SOURCE Wolf Popper LLP