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.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Sauer-Danfoss
Case Name: 
Sauer-Danfoss Deal Case 03/11/2013
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: SHS
Lawsuit Overview
Type of Lawsuit: 
Mergers and Acquisition
Date Filed: 
03/11/2013
Summary: 

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.