INVESTOR ALERT: Louisiana Based O’Bell Law Firm, L.L.C. is Investigating the
Buyout of Louisiana Based Edgen Group Inc. by Sumitomo Corporation
METAIRIE, La. -- October 4, 2013
O’Bell Law Firm, L.L.C. ("O’Bell"), Metairie based class action and securities
litigation law firm, announces that it is commencing an investigation into the
Board of Directors of Edgen Group Inc. ("Edgen" or the "Company") (NYSE: EDG)
to determine whether it has breached its fiduciary duties and other possible
violations of state law in connection with the sale of Edgen to Sumitomo
Corporation. On October 1, 2013, Sumitomo Corporation announced a deal to buy
Baton Rouge based Edgen. Under the terms of the transaction, Edgen
shareholders will receive $12.00 for each share of Edgen stock they own. The
transaction is approximately valued at $520 million.
The investigation is focused on the potential unfairness of the consideration
to Edgen shareholders and whether Edgen’s Board of Directors acted in the
shareholders’ best interest and properly shopped the company before entering
into the acquisition agreement with Sumitomo Corporation. At least one analyst
set a price target for EDG stock at $15.00 per share.
If you have information relevant to this investigation that you would like to
share with us in furtherance of the shareholders’ interests in this matter,
then please contact Eric J. O’Bell directly without obligation or cost to you
at 504-456-8677; or by email to EJO@OBellLawFirm.com.
O’Bell Law Firm, L.L.C.
Eric J. O’Bell, 504-456-8677
Press spacebar to pause and continue. Press esc to stop.