Investigation Overview
June 5, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of OM Group, Inc. (NYSE:OMG), was announced concerning whether the takeover of OM Group, Inc. by by affiliates of Apollo Global Management, LLC (NYSE: APO) for $34.00 per share is unfair to NYSE:OMG stockholders.
The investigation by a law firm concerns whether certain officers and directors of OM Group, Inc. breached their fiduciary duties owed to NYSE:OMG investors in connection with the proposed acquisition.
On June 1, 2015, OM Group, Inc. (NYSE: OMG) announced that it has entered into an agreement to be acquired by funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) for $34.00 per share in cash.
However, given that at least one analyst has set the high target price for NYSE:OMG shares at $37.00 per share, the investigation concerns whether the offer is unfair to NYSE:OMG stockholders. More specifically, the investigation concerns whether the OM Group Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.