NEW YORK--(EON: Enhanced Online News)--The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Zoltek Companies, Inc. (“Zoltek” or the “Company”) (Nasdaq:ZOLT) arising out of the proposed acquisition of Zoltek by Japanese carbon fiber producer, Toray Industries, Inc. (“Toray”).
On September 27, 2013, Zoltek announced that Toray will acquire all outstanding Zoltek shares in an all-cash deal valued at approximately $584 million. Under the terms of the proposed transaction, Zoltek shareholders will receive $16.75 per share, reflecting a mere 2% premium over the Company’s closing price on September 25, 2013 and a 10% discount from yesterday’s closing price of $18.51. The companies plan to complete the deal by early 2014.
Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the firm’s website (http://www.whafh.com) for more information about its past successes.
If you own Zoltek common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Gregory M. Nespole
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016