NEW YORK, June 23, 2014 (GLOBE NEWSWIRE) -- The fairness of the proposed acquisition of Integrys Energy Group ("Integrys" or the "Company") by Wisconsin Energy Corp. ("Wisconsin Energy") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of Integrys for agreeing to sell the Company to Wisconsin Energy. On June 22, 2014, the companies jointly announced they had reached a definitive agreement for Wisconsin Energy to acquire Integrys for $9.1 billion, including debt. Under the terms of the proposed transaction, Company shareholders will receive $18.58 in cash and 1.128 Wisconsin Energy shares for each share of Integrys they own, for a total consideration of $71.47 per share based on the closing price of Wisconsin Energy shares on June 20, 2014.
WeissLaw LLP is investigating whether Integrys' Board acted to maximize shareholder value prior to entering into the agreement with Wisconsin Energy. Notably, following the merger Integrys shareholders are expected to be substantially diluted, owning only 28% of the combined company.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell Integrys and whether the shareholders will obtain their fair proportionate share of the Company's continued success and future growth prospects. If you own Integrys shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also in the process of investigations on behalf of shareholders of Measurement Specialties Inc., TW Telecom Inc., Access Midstream Partners, L.P., Fusion-io, Inc. and OpenTable, Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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