Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Wednesday, July 29, 2015
Faruqi & Faruqi Investigation: Cytec Industries Inc.
Faruqi & Faruqi, LLP Announces the Investigation of Cytec Industries Inc. (CYT) Over the Proposed Sale of the Company to Solvay SA
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cytec Industries Inc. (“Cytec” or the “Company”) (NYSE: CYT) for potential breaches of fiduciary duties in connection with the sale of the Company to Solvay SA for approximately $5.5 billion in a cash transaction.
The Company’s stockholders will only receive $75.25 for each share of Company common stock they own. While the offer represented a premium of 28.9% compared to the closing price of $58.39 on July 28, 2015, it now represents a negligible premium compared to the opening price of approximately $73.91 on July 29, 2015. Furthermore, the share price is expected to continue climbing.
If you own common stock in Cytec and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F'sJuan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.