San Diego, CA -- (SBWire) -- 09/24/2015 --An investigation for shareholders, who currently hold shares of Fuel Systems Solutions, Inc. (NASDAQ:FSYS), was announced concerning whether the takeover of Fuel Systems Solutions, Inc. by Westport Innovations Inc for a value of $7.54 per share is unfair to NASDAQ:FSYS stockholders.
Investors who purchased shares of Fuel Systems Solutions, Inc. (NASDAQ:FSYS) and currently hold any of those NASDAQ:FSYS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Fuel Systems Solutions, Inc. breached their fiduciary duties owed to NASDAQ:FSYS investors in connection with the proposed acquisition.
On September 1, 2015, Westport Innovations Inc. (TSX: WPT / Nasdaq: WPRT), and Fuel Systems Solutions, Inc. (NASDAQ:FSYS) jointly announce that the companies have entered into a merger agreement to create a premier alternative fuel vehicle and engine company. Under the terms of the merger, Westport will acquire all of the outstanding shares of Fuel Systems common stock in a stock-for-stock transaction under which Fuel Systems shareholders will receive 2.129 Westport shares for each share of Fuel Systems common stock they own at closing, representing a 10% premium to Fuel Systems shareholders based on the closing trading prices of Westport's and Fuel Systems' shares on August 31, 2015 or an implied value to Fuel Systems shareholders of $7.54 per share.
However, given that at least one analyst has set the high target price for NASDAQ:FSYS shares at $11.00 per share and that NASDAQ:FSYS shares traded in early 2015 as high as $11.41 per share, the investigation concerns whether the offer is unfair to NASDAQ:FSYS stockholders. In addition, given that certain shareholders owning approximately 34% of Fuel Systems and 15% of Westport outstanding shares have each already agreed to vote their shares in favor of the merger, the investigation concerns whether the Fuel Systems Solutions Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On September 4, 2105, Fuel Systems Solutions, Inc. (NASDAQ:FSYS) shares closed at $
per share.
Those who are current investors in Fuel Systems Solutions, Inc. (NASDAQ:FSYS) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Fuel Systems Solutions, Inc. (NASDAQ:FSYS) Shareholder Alert: Takeover Under Investigation
An investigation on behalf of investors of Fuel Systems Solutions, Inc. (NASDAQ:FSYS) in connection with the proposed takeover was announced and NASDAQ:FSYS stockholders should contact the Shareholders Foundation.