BUYOUT OF MET-PRO - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
April 22, 2013
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it investigating the acquisition of Met-Pro. CECO Environmental Corp. (CECE), has announced today it has entered into a definitive agreement to acquire Met-Pro Corporation (MPR). Pursuant to the terms of the definitive agreement, CECO will acquire all of the outstanding shares of Met-Pro common stock in a cash and stock transaction valued at a total of approximately $210 million, or $13.75 per share. The consideration includes $7.25 per share in cash and $6.50 per share in CECO common stock.
The investigation concerns whether the board of directors of Met-Pro breached their fiduciary duties by not engaging in a full and fair auction for the company so that shareholder can get the full market price for their shares, while, at the same time, negotating personal pay packages and benefits for themselves in selling the company.
If you are a shareholder of Met-Pro and would like additional information concerning this transaction, at no cost or obligation, please contact us at 1-877-772-3975 or email at contact @ tripplevy