WILMINGTON, Del., July 29, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed on behalf of stockholders of Rockwood Holdings Inc. ("Rockwood" or the "Company") (NYSE:ROC) seeking to challenge the Company's recently announced merger.
If you would like to join the class action, please visit our website 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.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, on July 15, 2014, Rockwood and Albemarle Corporation ("Albemarle") 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.
The complaint, which was filed on July 24, 2014 in the New Jersey Superior Court, alleges that the consideration that Rockwood shareholders are expected to receive is inadequate. 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, 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.
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.