Sauer-Danfoss Inc. (NYSE:SHS) Investor Files Lawsuit in Effort To Stop $58.50 Takeover

If you purchased shares of Sauer-Danfoss Inc. (NYSE:SHS) prior to November 28, 2012, and currently hold any of those NYSE:SHS shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Case Name: 
Sauer-Danfoss Deal Case 03/11/2013
Case Status: 
Lawsuit Filed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Mergers and Acquisition
Date Filed: 

Mar. 13, 2013 (Shareholders Foundation) -- An investor in Sauer-Danfoss Inc. (NYSE:SHS) shares filed a lawsuit in effort to block the proposed takeover of Sauer-Danfoss Inc. by Danfoss A/S at $58.50 per NYSE:SHS share.

The plaintiff alleges that the defendants breached their fiduciary duties owed NYSE:SHS stockholders arising out of the attempt to sell the company too cheaply via an unfair process to Danfoss A/S

On Nov. 28, 2012 Sauer-Danfoss Inc. (NYSE: SHS) confirmed that it has received notice from Danfoss A/S of its intention to launch a tender offer to acquire all of the outstanding shares of Sauer-Danfoss that it does not already own at a price of $49.00 per share in cash.

Then on March 1, 2013, Danfoss A/S and Sauer-Danfoss Inc. announced a merger agreement for Danfoss A/S to acquire the 24.4% of Sauer-Danfoss common shares not already owned by Danfoss and its affiliates for $58.50 per share in cash.

However, the plaintiff claims that the $58.50-offer is too low and undervalues the company. Indeed, following the takeover announcement NYSE:SHS shares jumped on March 1, 2013 to a close of $58.73 per share. Furthermore, NYSE:SHS shares traded in the past also above the current offer. In fact, NYSE:SHS shares traded as high as$59.01 per share in April 2011.

In addition, the plaintiff says that the takeover process is also unfair to NYSE:SHS stockholders. In fact, Danfoss A/S and its subsidiaries currently own already approximately 75.6% of the outstanding shares of Sauer-Danfoss.