San Diego, CA -- (SBWire) -- 03/14/2016 --An investigation for shareholders in PowerSecure International, Inc. (NYSE:POWR), was announced over the takeover of PowerSecure International, Inc. by Southern Company for $18.75 per share.
Investors who purchased shares of PowerSecure International, Inc. (NYSE:POWR) and currently hold any of those NYSE:POWR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of PowerSecure International, Inc. breached their fiduciary duties owed to NYSE:POWR investors in connection with the proposed acquisition.
On February 24, 2016, Southern Company (NYSE: SO) and PowerSecure International, Inc. (NYSE:POWR) announced that the boards of directors of both companies have approved a merger agreement through which Southern Company will acquire PowerSecure, with PowerSecure becoming a wholly owned subsidiary ofSouthern Company. Under the terms of the agreement, PowerSecure's stockholders will be entitled to receive $18.75 in cash for each share of PowerSecure common stock in a transaction with a purchase price of approximately $431 million.
However, given that at least one analyst has set the high target price for NYSE:POWR shares at $21.00 per share, the investigation concerns whether the offer is unfair to NYSE:POWR stockholders. More specifically, the investigation concerns whether the PowerSecure International 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 March 10, 2016, NYSE:POWR shares closed at $18.61 per share.
Those who are current investors in PowerSecure International, Inc. (NYSE:POWR) 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
PowerSecure International, Inc. (NYSE:POWR) Shareholder Alert: Investigation over Buyout
An investigation on behalf of investors of PowerSecure International, Inc. (NYSE:POWR) in connection with the proposed takeover was announced and NYSE:POWR stockholders should contact the Shareholders Foundation.