DALLAS, July 11, 2011 (GLOBE NEWSWIRE) -- The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Arch Chemicals, Inc. ("Arch Chemicals" or "ARJ") related to the sale of ARJ to Lonza Group Ltd.
The definitive acquisition agreement involves a transaction valued at approximately $1.2 billion. Under the proposed buyout, Arch Chemicals shareholders will receive $47.20 in cash for each share of Arch Chemicals/ARJ common stock they hold. Under the terms of the acquisition, Arch Chemicals will commence a tender offer by July 15, 2011, and the transaction is expected to close in late 2011.
The firms are investigating whether Arch Chemicals/ARJ's Board of Directors undertook a fair process for shareholders in negotiating the buyout. In particular, the firms are reviewing the fairness of the transaction to Arch Chemicals shareholders, whether the shareholders are being underpaid for their stock, and whether Arch Chemicals' Board of Directors acted in the shareholders' best interests in approving the acquisition. In particular, although the deal price represents an approximate 12% premium over Arch Chemicals' closing price the day before the acquisition announcement, Arch Chemicals/ARJ shares closed above $42 per share as recently as late March 2011.
If you currently own shares of Arch Chemicals/ARJ and would like additional information regarding this investigation, or if you have information regarding the transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
The Powers Taylor, LLP logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9935