Newman Ferrara LLP Announces Investigation of Pacer International Inc.
NEW YORK -- January 7, 2014
Newman Ferrara LLP has begun an investigation into potential claims against
the board of directors of Pacer International Inc. (“Pacer”) (Nasdaq: PACR)
concerning the proposed acquisition of Pacer by XPO Logistics, Inc. (“XPO”)
On January 6, 2014, Pacer announced that it had entered into an agreement and
plan of merger to be acquired by XPO in a transaction valued at approximately
$335 million. Under the terms of the deal, Pacer shareholders will receive
consideration valued at approximately $9.00 per share in the form of $6.00 in
cash and $3.00 in XPO common stock, subject to price collar, for each share of
Pacer stock owned. However, Pacer common stock has traded at above that
implied offer price as recently as December 2, 2013, when Pacer stock traded
at $9.10 per share.
Newman Ferrara’s investigation concerns whether Pacer’s Board of Directors has
breached its fiduciary duties to act in the best interests of Pacer’s
shareholders. The investigation focuses on the potential unfairness of the
consideration being provided to Pacer’s shareholders and the process by which
Pacer’s Board of Directors considered and approved the proposed deal.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at
firstname.lastname@example.org to discuss this investigation, their rights, or potential
Newman Ferrara maintains a multifaceted practice based in New York City with
attorneys specializing in complex commercial and multi-party litigation,
securities fraud and shareholder litigation, consumer protection, civil
rights, and real estate. For more information, please visit the firm website
Newman Ferrara LLP
Roy Shimon, 212-619-5400
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