DALLAS, Sept. 28, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group, led by a former Federal Judge and former U.S. Attorney, launched a shareholder investigation today into the proposed acquisition of GenTek Inc. (Nasdaq:GETI) by American Securities.
According to the agreement, GenTek shareholders will receive $38.00 per share. GenTek common stock closed at $27.00 on last day before the announcement. The tender offer is expected to commence on or before October 9, 2009 and expire 20 days from the date of commencement. Following the tender offer, the parties will complete a second-step merger, in which any remaining shares of GenTek will be converted into the right to receive the same price per share paid in the tender offer, and GenTek will cease to be a public company.
Kendall Law Group's investigation concerns whether the consideration to be paid to GenTek shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the Company and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders' best interests in connection with the sale process.
For information about your rights as a GenTek shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. The firm has significant experience representing investors in mergers and acquisitions.
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