SL Industries, Inc. (NYSEMKT:SLI) Investor Investigation Concerning Potential Wrongdoing In Connection With Buyout Bid

If you purchased shares of SL Industries, Inc. (NYSEMKT:SLI) and currently hold any of those NYSEMKT:SLI shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
SL Industries
Affected Securities: 

June 30, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of SL Industries, Inc. (NYSEMKT:SLI), was announced concerning whether the takeover of SL Industries, Inc. by Handy & Harman Ltd for a per share price of $43.00 to $45.00 is unfair to NYSEMKT:SLI stockholders.

The investigation by a law firm concerns whether certain officers and directors of SL Industries, Inc. breached their fiduciary duties owed to NYSEMKT:SLI investors in connection with the proposed acquisition.

On June 18, 2015, SL Industries, Inc. (NYSEMKT:SLI) announced that the independent members of its Board of Directors have received a non-binding proposal from Handy & Harman Ltd., a publicly traded NASDAQ company, to acquire all outstanding shares of common stock of SL Industries, Inc. (NYSEMKT:SLI) for a per share price of $43.00 to $45.00.

However, given that NYSEMKT:SLI shares traded in October 2014 as high as $50.15 per share and given that Handy & Harman is an affiliate of Steel Partners Holdings L.P., which beneficially owns already 25.3% of SL Industries, Inc.’s outstanding common stock, the investigation concerns whether the offer is unfair to NYSEMKT:SLI stockholders. More specifically, the investigation concerns whether the SL Industries Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

SL Industries, Inc. reported that its annual Total Revenue rose from $184.66 million in 2013 to $204.42 million in 2014 and that its Net Income increased from $7.48 million to $14.18 million. Shares of SL Industries, Inc. (NYSEMKT:SLI) grew from $11.48 per share in November 2012 to as high as over $50 per share in October 2014.