An investigation on behalf of investors of Viasystems Group, Inc. (NASDAQ:VIAS) in connection with the proposed takeover was announced and NASDAQ:VIAS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/01/2014 -- The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Viasystems Group, Inc. (NASDAQ:VIAS), was launched concerning whether the takeover of Viasystems Group, Inc. by TTM Technologies, Inc is unfair to NASDAQ:VIAS stockholders.
Investors who purchased shares of Viasystems Group, Inc. (NASDAQ:VIAS) and currently hold any of those NASDAQ:VIAS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Viasystems Group, Inc. breached their fiduciary duties owed to NASDAQ:VIAS investors in connection with the proposed acquisition.
On September 22, 2014, TTM Technologies, Inc. (NASDAQ: TTMI) and Viasystems Group, Inc. (NASDAQ: VIAS) announced the execution of an agreement under which TTM Technologies, Inc will acquire all outstanding shares of Viasystems Group, Inc. for a combined consideration of $11.33 in cash and 0.706 shares of TTM Technologies, Inc common stock, which based on the closing market price on September 19, 2014 was valued at $16.46 per Viasystems Group, Inc share, or approximately $368 million. The total enterprise value of the transaction, including the assumption of debt, is approximately $927 million.
However, given that that at least one analyst has set the target price for NASDAQ:VIAS shares at $16.50 per share, the investigation concerns whether the offer is unfair to NASDAQ:VIAS stockholders. More specifically, the investigation concerns whether the Viasystems Group Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Viasystems Group, Inc reported that its annual Total Revenue rose from $929.25 million in 2010 to over $1.71 billion in 2013.
On September 29, 2014, NASDAQ:VIAS shares closed at $15.74 per share.
Those who are current investors in Viasystems Group, Inc. (NASDAQ:VIAS) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com