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Pacer International, Inc. (NASDAQ:PACR) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties In Takeover

  • If you purchased shares of Pacer International, Inc. (NASDAQ:PACR) and currently hold any of those NASDAQ:PACR shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • 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

Company
Pacer International, Inc.
Security
NASDAQ: PACR

Case Name
Pacer International Deal Case 01/23/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

January 24, 2014 (Shareholders Foundation) - An investor who currently holds Pacer International, Inc. (NASDAQ:PACR) shares filed a lawsuit in effort to halt the proposed takeover of Pacer International, Inc. by XPO Logistics, Inc.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:PACR stockholders arising out of the attempt to sell Pacer International, Inc. too cheaply via an unfair process to XPO Logistics, Inc.

On January 6, 2014, XPO Logistics, Inc (NYSE: XPO) and Pacer International, Inc. (NASDAQ:PACR) announced that they have entered into an agreement for XPO Logistics to acquire Pacer International, Inc. Under the terms of the proposed transaction, shareholders of Pacer International, Inc. will receive $6.00 in cash and $3.00 of XPO Logistics common stock for each share of Pacer common stock, subject to a price collar, for a total market value of $335 million and a total enterprise value of $296 million.

However, the plaintiff alleges that the offer is too low and undervalues Pacer International, Inc. and that the process is unfair to NASDAQ:PACR investors. At least one analyst has set the high target price at $10.00 per share and following the takeover news NASDAQ:PACR shares jumped in the open market to as high as $9.14 per share.