The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of RTI International Metals, Inc. (NYSE:RTI), was launched concerning whether the takeover of RTI International Metals, Inc. by Alcoa for a value of $41 per share is unfair to NYSE:RTI stockholders.
Investors who purchased shares of RTI International Metals, Inc. (NYSE:RTI) and currently hold any of those NYSE:RTI 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 RTI International Metals, Inc. breached their fiduciary duties owed to NYSE:RTI investors in connection with the proposed acquisition.
On March 9, 2015, Alcoa (NYSE: AA) announced that it has signed an agreement to acquire RTI International Metals, Inc. (NYSE: RTI). Alcoa will purchase RTI in a stock-for-stock transaction with an enterprise value of $1.5 billion. Under the terms of the agreement, Alcoa will acquire all outstanding shares of RTI in a stock-for-stock transaction. RTI shareholders will receive 2.8315 Alcoa shares for each RTI share, representing a value of $41 per RTI share based on Alcoa’s closing price on March 6, 2015. The transaction has an enterprise value of $1.5 billion, including $330 million of RTI cash on hand and up to $517 million in RTI’s convertible notes.
However, the investigation concerns whether the offer is unfair to NYSE:RTI stockholders. More specifically, the investigation concerns whether the RTI International Metals 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.
RTI International Metals, Inc. reported that its annual Total Revenue rose from $488.35 million in 2011 to $793.58 million in 2014 and that its Net Loss of $0.05 million in 2011 turned into a Net income of $31.09 million in 2014. Shares of RTI International Metals, Inc. (NYSE:RTI) reached in late 2013 as high as $35.16 per share.
On March 24, 2015, NYSE:RTI shares closed at $36.46 per share.
Those who are current investors in RTI International Metals, Inc. (NYSE:RTI) 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