BALA CYNWYD, Pa., Feb. 25, 2015 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Polypore
International, Inc. ("Polypore" or "the Company") (NYSE-PPO-News)
for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to Asahi Kasei
Corporation. ("Asahi").
Click here to learn more about the investigation
http://brodsky-smith.com/892-ppo-polypore-international-inc.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Polypore shareholders will
receive $60.50 in cash for each share
of Polypore stock they own. The investigation concerns whether the
Board of Polypore breached their fiduciary duties to stockholders
by failing to adequately shop the Company before agreeing to enter
into this transaction, and whether Asahi is underpaying for
Polypore. Prior to the completion of the transaction, 3M Company
will acquire the assets of Polypore's Separations Media segment for
approximately $1.0 billion, and Asahi
will receive the cash proceeds from the sale.
The transaction may undervalue Polypore and will result in a
loss for many long term Polypore shareholders. Polypore stock has
traded as high as $72.00 per share.
Consequently, an analyst has placed a $62.00 per share price target on Polypore stock
and it has been reported that an analyst has also indicated that he
thinks other bidders may be willing to top the price being paid by
Asahi. However, the deal has a $39
million breakup fee which could hinder a topping offer from
being received.
If you own shares of Polypore common stock and wish to discuss
the legal ramifications of the investigation, or have
any questions, you may e-mail or call the law office of
Brodsky & Smith, LLC who will, without obligation or cost to
you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 510, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/892-ppo-polypore-international-inc.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
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SOURCE Brodsky & Smith, LLC