Metals USA Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Reliance S
Feb 6th 2013 5:20PM
Updated Feb 6th 2013 5:45PM
Metals USA Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Reliance Steel
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Metals USA Holdings Corp. ("MUSA") (NYS: MUSA) to Reliance Steel & Aluminum Co. for shareholders. Under the terms of the proposed sale valued at approximately $766 million, MUSA shareholders will receive $20.65 in cash for each share of MUSA stock owned, below at least one analyst's estimate of $21.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The MUSA sale investigation centers on whether MUSA's shareholders are receiving adequate compensation for their shares in the proposed going private deal, whether the transaction undervalues MUSA's stock, and whether MUSA's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance estimates that the true inherent value of MUSA stock could be as high as $21.00 per share. According to shareholder rights attorney Patrick Powers, "Based on the sale price and other factors, we believe this transaction may undervalue MUSA's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC 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.
KEYWORDS: United States North America Texas
The article Metals USA Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Reliance Steel originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.