An investigation for investors in Synutra International, Inc. (NASDAQ:SYUT) was announced concerning whether the takeover of Synutra International, Inc. is unfair.
Investors who purchased shares of Synutra International, Inc. (NASDAQ:SYUT) and currently hold any of those NASDAQ:SYUT 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 Synutra International, Inc. breached their fiduciary duties owed to NASDAQ:SYUT investors in connection with the proposed acquisition.
On January 15, 2016, Synutra International, Inc. (NASDAQ:SYUT) announced that its board of directors has received a non-binding proposal letter, dated January 14, 2016, from Mr. Liang Zhang , Chairman and chief executive officer of Synutra International, Inc. (NASDAQ:SYUT), and an affiliated entity of his (together with Mr. Zhang, the “Buyer Group”), proposing a “going-private” transaction (the “Transaction”) to acquire all of the outstanding common stock (the “Shares”) of the Company not already owned by the Buyer Group for US$5.91 in cash per Share, subject to certain conditions.
However, given that at least one analyst has set the high target price for NASDAQ:SYUT shares at $6.74 per share and given that NASDAQ:SYUT shares traded in June 2015 as high as $7.78 per share in the open market, the investigation concerns whether the offer is unfair to NASDAQ:SYUT stockholders. More specifically, the investigation concerns whether the Synutra International 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.
Synutra International, Inc. (NASDAQ:SYUT) closed on February 3, 2016, at $4.85 per share.
Those who are current investors in Synutra International, Inc. (NASDAQ:SYUT) 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