Key Developments: Met-Pro Corp (MPR)
13.50USD
24 May 2013
$0.00 (+0.00%)
$13.50
$13.54
$13.54
$13.48
168,866
106,249
$15.21
$8.30
Latest Key Developments (Source: Significant Developments)
Law Office of Brodsky & Smith, LLC Announces Investigation of Met-Pro Corp
Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Met-Pro Corp relating to the proposed acquisition by CECO Environmental Corporation. ("CECO"). Full Article
Law Office of Brodsky & Smith, LLC Announces Investigation Of Met-Pro Corp
Law Office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Met-Pro Corporation (Met-Pro or the Company) relating to the proposed acquisition CECO Environmental Corporation. (CECO). Under the terms of the transaction, Met-Pro shareholders will receive only $7.25 in cash and $6.50 in stock for each share of Met-Pro stock they own. Met-Pro shareholders can choose to receive either $13.75 in cash or an equivalent value of CECO shares. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Met-Pro for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the Company. For example, Met-Pro recently announced that the Company's Environmental Air Solutions business unit has received an order in excess of $500,000 to supply an air pollution control system to a global developer and supplier of specialty industrial chemicals. The Company explained that the order demonstrates Met-Pro's unique ability to combine products from their various business units into a single source total solution to complex air emissions problems. Full Article
Law Firm Kirby McInerney LLP Announces Investigation Of Met-Pro Corp
Kirby McInerney LLP announced that it is investigating potential claims against the Board of Directors of Met-Pro Corp (Met-Pro or the Company) related to the proposed acquisition of the Company by CECO Environmental Corp. (CECO) . Under the terms of the definitive merger agreement, CECO will acquire all of the outstanding common stock of Met-Pro for $13.75 per share in cash, for a total transaction value of approximately $210 million. The investigation concerns whether the Met-Pro Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $13.75 per share consideration adequately values Met-Pro common shares. Full Article
Ryan & Maniskas, LLP Announces Investigation Of Met-Pro Corp
Ryan & Maniskas, LLP announced that it is investigating potential claims against the board of directors of Met-Pro Corp. (Met-Pro or the Company) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to CECO Environmental Corp. (CECO) in a transaction valued at over $200 million. The investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Met-Pro. Full Article
Levi & Korsinsky, LLP Announces Investigation into Possible Breaches Of Fiduciary Duty By Board Of Met-Pro Corp. In Connection With Sale Of Company To CECO
Levi & Korsinsky, LLP announced that it is investigating the Board of Directors of Met-Pro Corp. (Met-Pro or the Company) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to CECO Environmental Corp. (CECO). Under the terms of the transaction, Met-Pro shareholders may elect to receive $13.75 in cash and/or CECO stock for each share of Met-Pro stock they own. The transaction has a total approximate value of $210 million. The investigation concerns whether the Met-Pro Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether CECO is underpaying for Met-Pro stock, thus unlawfully harming Met-Pro stockholders. Full Article
Kahn Swick & Foti, LLC Investigates Met-Pro Corp
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (KSF) announced that KSF has commenced an investigation into the Board of Directors of Met-Pro Corp. in connection with their conduct related to the sale of the Company to CECO Environmental Corp. Under the terms of the proposed transaction, shareholders of Met-Pro will receive $13.75 (in cash and/or shares of CECO common stock) for each share of Met-Pro common stock that they own. KSF's investigation is focusing on whether Met-Pro and/or officers and Directors secured sufficient value for the shareholders of Met-Pro and/or violated state or federal securities laws. Full Article
Rigrodsky & Long, P.A. Announces Investigation Of Met-Pro Corp Buyout
Rigrodsky & Long, P.A. announced that it is investigating potential legal claims against the board of directors of Met-Pro Corporation (Met-Pro or the Company) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by CECO Environmental Corp. (CECO) in a transaction valued at approximately $202 million. Full Article
Law Firm Brower Piven Announces Investigation Of Met-Pro Corp Proposed Buyo
The securities litigation firm of Brower Piven, A Professional Corporation, announced that it has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Met-Pro Corp (Met-Pro or the Company) and other violations of state law by the board of directors of Met-Pro relating to the proposed buyout of the Company by CECO Environmental Corp (CECO). The firm`s investigation seeks to determine, among other things, whether Met-Pro`s board of directors breached their fiduciary duties by failing to maximize shareholder value. Full Article
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Met-Pro Corp Proposed Acquisition by CECO Environmental Corp
Shareholder Rights Law Firm Johnson & Weaver, LLP announced that it is investigating whether members of the board of directors of Met-Pro Corp breached their fiduciary duties in connection with the proposed acquisition by CECO Environmental. On April 22, 2013, CECO announced that it had entered into a definitive merger agreement to acquire Met-Pro. The deal calls for CECO to pay $7.25 in cash and $6.50 in CECO stock for each Met-Pro share owned. The investigation will determine whether the board of directors breached their fiduciary duties to stockholders by failing to satisfactorily shop the company before entering into this agreement. Jim Baker, lead analyst for Johnson & Weaver, stated that, CECO`s offer appears to be inadequate and not in the best interest of Met-Pro`s shareholders. In particular, Baker noted that Met-Pro has been substantially growing revenue and earnings over the last several years and has a very strong balance sheet with little debt and over $34 million in cash. Full Article
Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty by the Board Of Met-Pro Corp In Connection With Sale of the Company To CECO Environmental Corp.
Levi & Korsinsky announced that it is investigating the Board of Directors of Met-Pro Corp. (Met-Pro or the Company) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to CECO Environmental Corp. (CECO). Under the terms of the transaction, Met-Pro shareholders may elect to receive $13.75 in cash and/or CECO stock for each share of Met-Pro stock they own. The transaction has a total approximate value of $210 million. The investigation concerns whether the Met-Pro Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether CECO is underpaying for Met-Pro stock, thus unlawfully harming Met-Pro stockholders. Full Article
CECO Environmental to buy Met-Pro for $210 million
April 22 - CECO Environmental Corp said it will buy Met-Pro Corp for $210 million to become the world's largest maker of air pollution control products.
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