An analysis on account of accepted investors GenTek Inc. (Public, NASDAQ:GETI), who purchased the shares afore September 28, 2009, over abeyant breaches of fiduciary assignment and added violations of accompaniment law in affiliation with an declared arbitrary takeover amount were announced.
Those who currently are investors in shares of GenTek Inc. (NASDAQ:GETI), and purchased the shares afore September 28, 2009, and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554. The analysis by a law close focus on abeyant breaches of fiduciary assignment and added violations of accompaniment law by the Board of Directors of GenTek Inc. (Public, NASDAQ:GETI) arising out of their attack to advertise GenTek Inc. to ASP GT Acquisition Corp, a wholly-owned accessory of investment funds managed by American Securities LLC. On September 28, 2009 GenTek Inc. (NASDAQ: GETI) announced, that it has entered into a absolute acceding to be acquired by ASP GT Acquisition Corp., a wholly-owned accessory of investment funds managed by American Securities LLC, a clandestine disinterestedness firm. GenTek appear that beneath the agreement of the alliance agreement, ASP GT Acquisition Corp will action to acquirement for banknote all of the outstanding shares of GenTek accepted banal (NASDAQ: GETI) at a amount of $38.00 per share. The transaction is admired at $673 actor consisting of disinterestedness amount of about $411 actor additional the acceptance of net debt and agnate liabilities of about $262 actor and the Board of Directors of GenTek has absolutely accustomed the alliance agreement.
According to an analysis by a law close “the transaction appears to be unfair” to accepted investors of GenTek Inc. (Public, NASDAQ:GETI) because the “offer to acquirement GenTek Inc. (NASDAQ:GETI) at $38 per allotment appears opportunistically timed to crop advantage of the accepted bread-and-butter downturn”. The analysis “concerns whether the application to be paid to GETI shareholders is grossly unfair, inadequate, and essentially below the fair or inherent amount of GETI” and “whether the admiral of GETI, including any appropriate board members, may accept breached their fiduciary duties by not acting in GETI shareholders' best interests in affiliation with the auction action of GETI”. Another analysis even calls the accord “suspicious because it appears from a analysis of the Company's banking statements that the inherent amount of the Company's banal is greater than $38.00 per share.”
GenTek Inc., amid in Parsippany, NJ, is a captivation aggregation whose subsidiaries accomplish automated apparatus and achievement chemicals. The Company’s subsidiaries accomplish through two primary business segments: valve actuation systems and achievement chemicals. GenTek Inc appear in 2007 Total Revenue of $560.27million with a Net Income of $29.77million and in 2008 Total Revenue of $608.04million. Shares of GenTek Inc. (NASDAQ:GETI) traded at $37.75 per allotment afterwards the advertisement and $27.30 per allotment anon afore the announcement. GenTek Inc. shares (NASDAQ:GETI) traded in 2005 at over $48.50 per share, in 2007 at about $38 per share, and in 2008 at about $32 per share.
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