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If you purchased shares of Cytec Industries Inc (NYSE:CYT) and currently hold any of those NYSE:CYT shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
November 06, 2015 (Shareholders Foundation) - An investor who currently holds shares of Cytec Industries Inc (NYSE:CYT), filed a lawsuit in effort to halt the proposed takeover of Cytec Industries Inc by Solvay for $75.25 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CYT stockholders by agreeing to sell Cytec Industries Inc too cheaply via an unfair process to Solvay
On July 29, 2015 Cytec Industries Inc. (NYSE:CYT) announced that it has entered into a merger agreement with Brussels-based Solvay. Under the terms of the proposed transaction shareholders of Cytec Industries Inc (NYSE:CYT) will receive $75.25 per NYSE:CYT share they hold.
However, the plaintiff claims that the proposed consideration NYSE:CYT shareholders will receive is grossly inadequate and undervalues Cytec Industries Inc. More specifically, the plaintiff says that the consideration to be paid in the proposed transaction is unfair and inadequate because, among other things, the intrinsic value of the company is materially in excess of the amount offered in the proposed transaction. Cytec Industries Inc reported that its annual Total Revenue rose from over $1.41 billion in 2011 to over $2 billion in 2014. In addition, the plaintiff claims that the process is also unfair to NYSE:CYT stockholders