SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of AMCOL International Corporation (NYSE: ACO) breached their fiduciary duties in connection with the planned sale of the company to Imerys. AMCOL International Corporation engages in the development and application of minerals and technology products and services to various industrial and consumer markets.
On February 26, 2014, AMCOL entered into an amended merger agreement with Imerys pursuant to which AMCOL shareholders would receive $42.75 per share in cash for each share of AMCOL common stock that they own.
On March 3, 2014 AMCOL disclosed that they received a second proposal from Minerals Technologies Inc. (NYSE: MTX) to acquire all of the outstanding shares of the Company for $45.00 per share. In the disclosure, it stated that AMCOL board of directors continued to recommend the transaction with Imerys, in which shareholders would receive $42.75 per share.
The investigation concerns whether the AMCOL board members failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.
If you are an AMCOL shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (email@example.com) at 619-230-0063 Ext.118.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes. Frank J. Johnson is the attorney responsible for the content of this press release.