Cytec Industries, Inc.
Robbins Arroyo LLP: Acquisition of Cytec Industries Inc. (CYT) by Solvay SA (SOLB) May Not Be in Shareholders’ Best Interests
Robbins Arroyo LLP is investigating the proposed acquisition of Cytec Industries Inc. (NYSE: CYT) by Solvay SA (EN Brussels: SOLB). On July 29, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Solvay will acquire Cytec. Under the terms of the agreement, Cytec shareholders will receive $75.25 for each share of Cytec common stock.
Is the Proposed Acquisition Best for Cytec and Its Shareholders?
Robbins Arroyo LLP’s investigation focuses on whether the board of directors at Cytec is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.
The $75.25 merger consideration represents a premium of only 23.9% based on Cytec’s closing price on June 29, 2015. This premium is significantly below the average one-month premium of nearly 32% for comparable transactions within the past five years.
Cytec shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information.
Cytec shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.