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A Schulman Inc (NASDAQ:SHLM) Investor Lawsuit Against Acquisition By LyondellBasell

  • Investors who purchased shares of A Schulman Inc (NASDAQ:SHLM) may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
A Schulman Inc
Security
NASDAQ: SHLM

Case Name
A. Schulman Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the District of Delaware

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Summary

June 20, 2018 - The case was voluntarily dismissed.
April 26, 2028 - An investor, who currently holds shares of A Schulman Inc (NASDAQ:SHLM), filed a lawsuit in effort to halt the proposed takeover of A Schulman Inc by LyondellBasell.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SHLM stockholders by agreeing to sell A Schulman Inc. cheaply via an unfair process.

Fairlawn, OH based A. Schulman, Inc. is an international supplier of plastic formulations, resins and services, and provides solutions to its customers' requirements through custom-formulated products. On February 15, 2018, LyondellBasell (NYSE: LYB) and A. Schulman, Inc.(NASDAQ: SHLM) announced that they have entered into an agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. Under the terms of the agreement, LyondellBasell will purchase 100 percent of A. Schulman common stock for $42 per share in cash and one contingent value right per share and assume outstanding debt and certain other obligations.
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However, plaintiff claims that the proposed consideration NASDAQ:SHLM shareholders will receive is grossly inadequate and undervalues A. Schulman, Inc. In addition, the plaintiff alleges that the process is also unfair NASDAQ:SHLM stockholders. Indeed