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If you purchased shares of MeadWestvaco Corp. (NYSE:MWV) and currently hold any of those NYSE:MWV shares, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
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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
February 17, 2015 (Shareholders Foundation) - An investor, who currently holds shares of MeadWestvaco Corp. (NYSE:MWV), filed a lawsuit in effort to halt the proposed takeover of MeadWestvaco Corp. by Rock-Tenn Company.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:MWV stockholders by agreeing to sell MeadWestvaco Corp. too cheaply via an unfair process to Rock-Tenn Company.
On January 26, 2015, Rock-Tenn Company (NYSE:RKT) and MeadWestvaco Corp. (NYSE:MWV) announced that they have entered into a combination agreement to create a leading global provider of consumer and corrugated packaging (“NewCo”) in a transaction with a combined equity value of$16 billion. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, MeadWestvaco Corp. (NYSE:MWV) stockholders will receive 0.78 shares of NewCo for each share of MeadWestvaco Corp. (NYSE:MWV) held.
However, the plaintiff claims that the offer is too low and undervalues MeadWestvaco Corp. Indeed, at least one analyst has set the high target price for NYSE:MWV shares at $58.00 per share. Furthermore, MeadWestvaco Corp. reported that its annual Total Revenue rose from over $5.17 billion in 2011 to $5.63 billion in 2014. Shares of MeadWestvaco Corp. (NYSE:MWV) grew from $21.79 per share in August 2010 to $45.72 per share on January 22, 2015.
In addition, the plaintiff claims that the process is also unfair to NYSE:MWV stockholders