WILMINGTON, Del., July 17, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Rockwood Holdings Inc. ("Rockwood" or the "Company") relating to the sale of the Company to Albemarle Corporation ("Albemarle"). On July 15, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Albemarle will acquire Rockwood in a merger valued at roughly $6.2 billion. As a result of the merger, Rockwood shareholders are only anticipated to receive $50.65 per share in cash and 0.4803 of Albemarle stock in exchange for each share of Rockwood. The total combined consideration Rockwood shareholders are expected to receive is roughly $85.53 per share.
Andrews & Springer's investigation focuses on the significantly insufficient consideration that Rockwood shareholders are expected to receive. Analysts at Yahoo! Finance have set a $93.00 per share price target for Rockwood, which is approximately 8.73% more than what Rockwood shareholders are expected to receive. Additionally, following the merger, Rockwood shareholders are expected to be substantially diluted, owning only 30% of the combined company. Additionally, the 0.4803 fixed exchange ratio restricts the value that Rockwood shareholders are expected to receive by exposing Rockwood shareholders to the volatility of Albemarle's share price.
Given this information, Andrews & Springer is preparing a class action lawsuit as a result. If you own shares of Rockwood and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/roc or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.