Robbins Umeda LLP Announces an Investigation of Ameron International Corporation
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of Ameron International Corporation (NYSE: AMN). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Ameron International in connection with their efforts to sell the company to National Oilwell Varco, Inc. (NYSE: NOV).
On July 5, 2011, Ameron International announced it had entered into a merger agreement under which National Oilwell Varco will acquire all outstanding shares of Ameron International in a cash transaction. Upon closure, the deal would force Ameron International shareholders to sell their holdings in the company at $85.00 per share. The transaction may close as early as the fourth quarter of 2011.
The investigation focuses on whether Ameron International’s board is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in light of the company’s recent positive financial results. For example, market analysts have recently issued target prices for Ameron International that value the company’s stock at $90.00 per share, well above the price being offered as a part of the merger agreement. Additionally, the company’s stock has historically traded higher than the $85.00 per share offered in the agreement.
If you own stock in Ameron International and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.