The Briscoe Law Firm Investigates Thermadyne Holdings Corp. Concerning the Acquisition of Thermadyne by Irving Place Capital
06 Octobre 2010 - 5:31PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Thermadyne Holdings Corporation (“Thermadyne” or “THMD”)
(NASDAQ: THMD) related to the proposed acquisition and buyout of
Thermadyne by the private equity firm Irving Place Capital.
The definitive merger agreement, which was announced on October
5, 2010, involves a transaction valued at approximately $422
million, under which Thermadyne shareholders will receive $15.00 in
cash for each share of Thermadyne/THMD common stock they hold. The
acquisition price represents only an approximate 2% premium over
Thermadyne’s closing price on October 4, 2010, the day before the
buyout announcement. Further, Thermadyne’s stock price has steadily
risen over the past year. Based on this, and other considerations,
the acquisition price does not appear to be fair to Thermadyne
shareholders.
The investigation relates to possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Thermadyne for approving this transaction, whether the
consideration to be received by Thermadyne shareholders is fair,
and whether Thermadyne’s Board of Directors acted in the
shareholders’ best interests.
If you currently own shares of Thermadyne Corporation/THMD and
would like additional information regarding this investigation, or
if you have information regarding the allegations involving this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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