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Lawsuit filed for Investors in Milacron Holdings Corp. (NYSE: MCRN) in effort to Halt the Takeover

02-10-2020 05:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed for investors in shares of Milacron Holdings Corp. (NYSE: MCRN) in connection with the proposed takeover.

A lawsuit was filed for investors in shares of Milacron Holdings Corp. (NYSE: MCRN) in connection with the proposed takeover.

The Shareholders Foundation announced that an investor, who currently holds shares of Milacron Holdings Corp. (NYSE: MCRN), filed a lawsuit against the takeover of Milacron Holdings Corp..

Investors who purchased shares of Milacron Holdings Corp. (NYSE: MCRN) and currently hold any of those NYSE: MCRN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: MCRN stockholders by agreeing to sell Milacron Holdings cheaply via an unfair process.

Cincinnati, OH based Milacron Holdings Corp. manufactures, distributes, and services engineered and customized systems within the plastic technology and processing industry in the United States and internationally.

On July 12, 2019, Hillenbrand, Inc. (NYSE: HI) and Milacron Holdings Corp. (NYSE: MCRN) announced that they have entered into an agreement under which Hillenbrand, Inc. will acquire Milacron Holdings Corp. (NYSE: MCRN) in a cash and stock transaction valued at approximately $2 billion, including net debt of approximately $686 million as of March 31, 2019. Under the terms of the agreement, Milacron Holdings Corp. (NYSE: MCRN) stockholders will receive $11.80 in cash and a fixed exchange ratio of 0.1612 shares of Hillenbrand common stock for each share of Milacron Holdings Corp. (NYSE: MCRN) common stock they own. Based on Hillenbrand's closing stock price on July 11, 2019, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Milacron Holdings Corp. (NYSE: MCRN) stockholders is $18.07 per share

However, plaintiff claims that in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form Registration Statement filed with the United States Securities and Exchange Commission. The Complaint alleges that the Registration Statement omits material information with respect to, among other things, the Company's and Hillenbrand's financial projections and the analyses performed by Milacron's financial advisor.

At least one analyst has set the high target price for NYSE: MCRN shares at $19.00 per share and that NYSE: MCRN shares traded in September 2018 in the open market as high as $21.93 per share. Milacron Holdings Corp. reported that its annual Total Revenue rose from over $1.23 billion in 2017 to over $1.25 billion in 2018 and that its Net Income increased from $1.1 million in 2017 to $41.50 million in 2018.

Those who are current investors in Milacron Holdings Corp. (NYSE: MCRN) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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