BALA CYNWYD, Pa., June 2, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of NATCO Group Inc. ("NATCO" or the "Company") (NYSE:NTG) relating to the proposed merger with Cameron International Corp. ("Cameron") (NYSE:CAM).
Under the proposed agreement, NATCO shareholders will receive a fixed exchange ratio of 1.185 shares of Cameron common stock for each share of NATCO common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the NATCO Board's approval of the proposed acquisition. Based on Cameron's closing price on June 1, 2009, NATCO shareholders would receive $38.45 for each of their shares. However, as recently as September 2008, NATCO shares were trading at over $46.00 and between January and November 2008 NATCO traded at $41.00-$55.00 a share, all substantially higher than the proposed offer. Moreover, while Cameron shares closed at $32.45 on June 1, 2009, prior to May 26, 2009, Cameron shares have only traded above $30.00 on three (3) days since October 2008.
If you own shares of NATCO and wish to discuss the legal ramifications of the proposed acquisition by Cameron, 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 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.