Texas Industries, Inc. Merger Litigation (NYSE: TXI)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Texas Industries, Inc. - TXI
BALA CYNWYD, January 30, 2013 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Texas Industries, Inc. (“Texas Industries” or the “Company”) NYSE –TXI-News) relating to the acquisition by Martin Marietta Materials, Inc. (“MLM”).
Under the terms of the transaction, Texas Industries shareholders will receive only 0.7 shares of MLM stock for each share of Texas Industries stock they own. The transaction values Texas Industries stock at approximately $71.95 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Texas Industries for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company and will result in a loss or no gain for many Texas Industries shareholders. Texas Industries stock traded above the sale price at $75.06 per share as recently as January 24, 2014 and traded at $74.68 on May 17, 2013. In addition, an analyst has set a $80.00 per share price target on Texas Industries stock.
If you own shares of Texas Industries common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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