Polypore International, Inc.
POLYPORE INTERNATIONAL (PPO) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Polypore International, Inc.
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Polypore International, Inc. (NYSE: PPO) (“Polypore” or the “Company”) relating to the sale of the Company to Asahi Kasei Corporation (“Asahi”). On February 23, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Asahi will acquire Polypore in a two-step deal worth $3.2 billion. Immediately prior to Asahi’s acquisition of Polypore, the Company is expected to sell its Separations Media business to 3M Company for $1 billion. As a result of Asahi’s acquisition, however, Polypore shareholders are only anticipated to receive $60.50 per share in cash in exchange for each share of Polypore.
Our investigation so far has revealed that the consideration Polypore shareholders are expected to receive is inadequate. Polypore shareholders will not be receiving any consideration from the sale of Polypore’s Separations Business to 3M. While the Company claims that shareholders will receive a premium for their shares in the merger with Asahi, analysts at Yahoo! Finance have set a $62.00 per share price target for Polypore, $1.50 more than what Polypore shareholders are expected to receive when the merger closes.
If you currently own shares of Polypore and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/PPO or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice constitutes Attorney Advertising.