NYSE:BOX Investor Alert: Investigation of Takeover of seacube container leasing ltd
The Shareholders Foundation announces that an investigation on behalf of investors in seacube container leasing ltd (NYSE:BOX) shares was launched concerning whether the offer by the Ontario Teachers' Pension Plan to acquire seacube container leasing ltd for $23.00 per NYSE:BOX share and the takeover process are unfair to investors in:BOX shares.
Park Ridge, NJ based SeaCube Container Leasing Ltd. is a container leasing company. On Jan. 18, 2013, the Ontario Teachers' Pension Plan and SeaCube Container Leasing Ltd. (NYSE: BOX) announced they have entered into an agreement by which the Ontario Teachers' Pension Plan will acquire 100% of the shares of SeaCube Container Leasing Ltd.
However, the investigation by a law firm concerns whether certain officers and directors breached their fiduciary duties owed NYSE:BOX investors in connection with the proposed acquisition.
Investors who purchased shares of seacube container leasing ltd (NYSE:BOX) prior to January 18, 2013, and currently hold any of those NYSE:BOX shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
Under the terms of the agreement, SeaCube Container Leasing Ltd shareholders will receive $23.00 in cash per NYSE:BOX common share.
However, at least one analyst has set the high target price for NYSE:BOX shares at $24.00 per share. In addition, the company’s financial performance improved over the past recent years. For instance, it reported that its annual Revenue rose from $137.25 million in 2010 to $169.48 million in 2011 and its Net Income increased from $29.62 million in 2010 to $39.02 million. Furthermore, NYSE:BOX shares grew from as low as $11.42 per share in Sept. 2011 to as high as $20.33 on January 18, 2013.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:BOX stockholders.
Specifically, the investigation focuses on whether the 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.
Those who are current investors in NYSE:BOX shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego