New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it has been retained to represent TPC Group shareholders in connection with the acquisition of the company. TPC Group Inc. announced that it has entered into a definitive merger agreement with investment funds sponsored by First Reserve Corporation and SK Capital Partners. Under the terms of the merger agreement, TPC Group stockholders will receive $40.00 per share in cash for each share of TPC Group common stock that they own. The transaction, which is valued at approximately $850 million, including net debt, will result in TPC Group becoming a private company. Stockholders representing approximately 22 percent of TPC Group's outstanding shares have entered into agreements to vote in favor of the transaction.
The investigation concerns whether the board of directors and management of TPC breached their fiduciary duties in not conducting a full and fair sale process while extracting personal benefits for themselves. Indeed, analysts have projected that the true takeover value of TPC is at least $55 per share.
If you would like additional information concerning this investigation, please feel free to contact us toll free at 877-772-3975 or email at firstname.lastname@example.org
Tripp Levy PLLC is a leading national securities law firm and has recovered millions of dollars for shareholders in related actions.
I just spoke to the law firm and they sent me the merger agreement which shows how management is preventing other bidders from coming forward with a $21.5 million penalty provision that another bidder must pay if it wants to make a higher bid and how management said it won't even shop around for another bidder. They did this because they are joining the buyout group and are rolling over their equity. They are not selling the company they are buying it!!!
contact law firm to stop this! 877-772-3975 or email@example.com
This attempt to steal the company is laughable. Management owns no stock and does not care what the purchase price is. I'm sure they worked out a sweetheart deal and will make out big if this company goes private. I hope they're in for a fight!