NEW YORK, July 15, 2014 (GLOBE NEWSWIRE) -- The fairness of the proposed acquisition of Rockwood Holdings, Inc. ("ROC" or the "Company") by Albemarle Corporation ("ALB" or "Albemarle") 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 ROC for agreeing to sell the Company to ALB. On July 15, 2014, the companies jointly announced they had reached a definitive agreement for Albemarle to acquire all outstanding shares of the Company in a transaction valued at approximately $6.2 billion. Under the terms of the agreement, ROC shareholders will receive $50.65 in cash and 0.4803 of a share of Albemarle common stock, representing a value of $85.53 per share based on the closing price of ALB stock on July 11, 2014.
WeissLaw LLP is investigating whether ROC's Board acted to maximize shareholder value prior to entering into the agreement with ALB. Notably, prior to the announcement of the deal, at least one analyst set a price target for ROC stock at $93.00 – or nearly $7.50 above the price offered by ALB. In addition, the offer is lower than the Company's 52-week high of $86.18.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell ROC and whether ROC shareholders will obtain their fair proportionate share of the Company's continued success and future growth prospects. If you own ROC 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 AmREIT, Inc., URS Corporation, Medical Action Industries Inc., PLX Technologies, Integrys Energy Group, and Measurement Specialties, 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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