Block & Leviton LLP Investigates Gardner Denver, Inc. for Possible Breaches of
Fiduciary Duty in Connection with Its Potential Acquisition by SPX Corporation
BOSTON, Dec. 19, 2012
BOSTON, Dec. 19, 2012 /PRNewswire/ --Block & Leviton LLP (www.blockesq.com),
a Boston-based law firm representing investors nationwide, has commenced an
investigation into possible breaches of fiduciary duty by the Board of
Directors of Gardner Denver, Inc. ("Gardner Denver" or the "Company")
(NASDAQ:GDI) concerning the discussed acquisition of the Company by SPX
Corporation ("SPX") (NYSE:SPW).
News reports have estimated that the deal would be valued at approximately
$85.00 for each Gardner Denver share owned. A transaction price of $85.00 per
share represents a paltry 15% premium over the Company's share price prior to
the most recent news reports. Moreover, the proposed price of $85.00 per
share represents a premium of just 1% over the Company's 12-month high. Not
surprisingly, the mean consensus amongst analysts is that the Company's stock
price will "outperform" current estimates.
Block & Leviton's investigation seeks to determine, among other things,
whether Gardner Denver's Directors would be breaching their fiduciary duties
by failing to maximize shareholder value if the potential acquisition by SPX
If you are a Gardner Denver shareholder and have questions about your legal
rights, or if you have information relevant to this investigation, please
contact attorney Philip J. Marino, at (617) 398-5600 or email him at
Block & Leviton is a Boston-based law firm representing investors nationwide
for violations of securities laws. The firm's lawyers have collectively been
prosecuting securities cases on behalf of investors for over 50 years. This
notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Philip J. Marino, Esq.
SOURCE Block & Leviton LLP
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