Titanium Metals Corp (TIE) Investor Lawsuit to Halt Acquisition by
Precision Castparts Announced by Shareholders Foundation
SAN DIEGO, CA -- (Marketwire) -- 11/19/12 -- The Shareholders
Foundation, Inc. announces that an investor in Titanium Metals Corp
(TIE) shares filed a lawsuit to block the proposed takeover of
Titanium Metals Corp by Precision Castparts Corp. at $16.50 per TIE
Investors who purchased shares of Titanium Metals Corp (TIE) prior to
November 09, 2012 and currently hold any of those Titanium Metals
Corp (TIE) shares, have certain options and should contact the
Shareholders Foundation, Inc. at firstname.lastname@example.org or
call +1 (858) 779-1554.
On November 9, 2012, Titanium Metals Corporation announced that it
has entered into a merger agreement under which Precision Castparts
Corp. has agreed to acquire all of the common stock of Titanium
Metals Corporation for $16.50 per share in cash.
However, the plaintiff alleges that the $16.50 offer is unfair to TIE
investors and undervalues the company. Indeed, at least one analyst
has set the high target price for TIE shares at $20.00 per shares and
TIE shares traded in October 2011 as high as $17.73 per share and in
early 2011 as high as $20.14 per share, thus well above the current
Furthermore the plaintiff claims that the process is also unfair to
TIE stockholders. In fact, Titanium Metals Corporation's principal
stockholders Contran Corporation and certain of its affiliates, who
collectively hold approximately 45% of the outstanding shares of
Titanium Metals Corporation common stock, have already committed to
tender their shares in the tender offer.
Those who currently are investors in Titanium Metals Corp (TIE)
shares and purchased their shares before the announcement have
certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal
monitoring and settlement claim filing service, which does research
related to shareholder issues and informs investors of securities
class actions, settlements, judgments, and other legal related news
to the stock/financial market. The Shareholders Foundation, Inc. is
not a law firm. The information is provided as a public service. It
is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
Press spacebar to pause and continue. Press esc to stop.