Ameron International Corporation Acquisition Under Investor Investigation

If you are a current investor in Ameron International Corporation (NYSE: AMN) and purchased your NYSE:AMN shares prior to the announcement, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Ameron International
Affected Securities: 

Following the announcement by Ameron International Corporation that it agreed to be acquired by National Oilwell Varco, Inc an investigation on behalf of investors of Ameron International Corporation (NYSE: AMN) was announced concerning whether the offer to take over Ameron International and the sale process are unfair to investors of Ameron Intl. (NYSE:AMN) and whether certain of its officers and directors or others breached their fiduciary duties owed investors in Ameron Intl Corp (AMN) shares.

The investigation by a law firm concerns whether the Ameron International Corp, certain of its officers and directors, and/or others breached their fiduciary duties owed to Ameron IntlCorp. (NYSE AMN) investors in connection with the proposed takeover.
On Tuesday, Jul 05, 2011 Ameron International Corporation and National Oilwell Varco, Inc. announced that they have entered into an agreement under which National Oilwell Varco, Inc will acquire Ameron Intl. Corp. in an all cash transaction that values Ameron International Corp. at approximately $772 million.
Under the terms of the proposed transaction, Ameron Intl's stockholders would receive $85.00 per AMN share in cash in return for each of the approximately 9.1 million shares outstanding.

Shares of Ameron International Corporation (Public, NYSE:AMN) jumped in response to the takeover announcement from $66.89 on Friday to $84.50 on Tuesday, July 5, 2011.

However, AMN stock traded as early as December 2010 as high as$84.11 per share, leaving investors who purchased during December 2010 with only a meager premium. Furthermore, at least one analyst has set the high price target for Ameron International Corp shares at $90 per share and historic stock trading prices have been significantly above the current offer. During 2009 AMN stock traded as high as $89 per share and during 2008 even as high as $130.10 per share, leaving investors who invested during those highs with not only a meager premium, but asking those stockholders to hand over their AMN stock at a discount.

The investigation concerns whether the Ameron Intl Board of Directors undertook an adequate and in particular breached their fiduciary duties to the Ameron International (NYSE:AMN) shareholder by failing to adequately shop the Company before entering into the transaction.

The investigation concerns also whether National Oilwell Varco, Inc. would underpay for NYSE:AMN shares, thus unlawfully harming AMN stockholders.

A potential securities class action lawsuit would seek to maximize the amount of money and information Ameron Intl (AMN) shareholders would receive in a buyout, so the law firm.