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SAN DIEGO, Dec. 4, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of General Cable Corporation ("General Cable") (NYSE:BGC) breached their fiduciary duties in connection with the proposed sale of the Company to Prysmian Group ("Prysmian"). General Cable develops, designs, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets.
On December 4, 2017, General Cable announced that it had signed a definitive merger agreement with Prysmian. Under the terms of the agreement, Prysmian will acquire each share of outstanding common stock of General Cable in exchange for $30.00 in cash.
The investigation concerns whether the General Cable board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for General Cable shares of common stock.
If you are a shareholder of General Cable and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
View original content:http://www.prnewswire.com/news-releases/general-cable-bgc-alert-johnson-fistel-investigates-proposed-sale-of-general-cable-corporation-is-3000-a-fair-price-for-shareholders-300565815.html
SOURCE Johnson Fistel, LLP
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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