|[June 23, 2014]
INTEGRYS ALERT: Proposed Sale of Integrys Energy Group, Inc. Being Investigated by Johnson & Weaver, LLP
SAN DIEGO --(Business Wire)--
Shareholder rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of Integrys Energy Group,
Inc. (NYSE: TEG), breached their fiduciary duties in connection with the
proposed $5.7 billion sale of the company to Wisconsin Energy Corp.
If you are an Integrys shareholder and would like additional
information concerning your legal rights, please contact Johnson &
Weaver's lead analyst Jim Baker at firstname.lastname@example.org
Integrys operates as a diversified energy holding company with regulated
natural gas and electric utility operations in Illinois, Michigan,
Minnesota, and Wisconsin.
On June 23, 2014, Integrys and Wisconsin Energy entered into an
agreement whereby Wisconsin Energy will acquire ntegrys in a $5.7
billion transaction. Under the terms of the transaction, Integrys
shareholders will receive common stock at a fixed exchange ratio of
1.128 Wisconsin Energy shares plus $18.58 in cash per Integrys share.
Total consideration is valued at $71.47 per Integrys share.
Nationally recognized Johnson & Weaver, which focuses its practice on
shareholder rights, is investigating whether the proposed $71.47 per
share deal price represents adequate consideration, especially given the
company's recent success and promise of future growth in the area of
compressed natural gas ("CNG") fueling stations.
"Integrys is a valuable company that has recently reported plans to have
61 CNG stations either under contract or in service by the end of 2014,"
said Johnson & Weaver attorney Scott Holleman. "Integrys directors were
required to do everything they could to maximize shareholder value, and
we don't think that the $71.47 per share deal price is adequate given
the CNG prospects for dynamic future growth."
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. The firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the firm
and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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