The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Polypore International, Inc. (“Polypore” or the “Company”) (NYSE: PPO) relating to the proposed buyout of the Company by Asahi Kasei Corp. (“Asahi Kasei”).
On February 23, 2015, Polypore announced that it had agreed to be sold in a two-part, all cash deal valued at $3.2 billion. Under the terms of the transaction, Asahi Kasei, will purchase the Company for $60.50 per share in cash. As an integrated step in this transaction, immediately prior to Asahi Kasei’s acquisition of Polypore, 3M Company will acquire the assets of Polypore’s Separations Media segment for approximately $1.0 billion and Asahi Kasei will receive the cash proceeds from the asset sale. The definitive agreements require that the closings of the transactions are conditioned upon one another.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock. In particular, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for Polypore stock at $62.00 per share.
If you currently own common stock of Polypore and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153