|By PR Newswire||
|January 6, 2014 01:37 PM EST||
NEW YORK, Jan. 6, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Pacer International, Inc. ("Pacer" or the "Company") (NASDAQ: PACR) (ISIN: US69373H1068) (CUSIP: 69373H106) concerning the proposed acquisition of Pacer by XPO Logistics, Inc. ("XPO Logistics" or "XPO").
The investigation concerns whether the Pacer directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value, and whether XPO Logistics is underpaying for the Pacer shares. Under the terms of the agreement, Pacer shareholders will be entitled to receive $6.00 in cash and $3.00 of XPO Logistics common stock for each share of Pacer common stock, subject to a price collar, for a total market value of $335 million. However, the Price to EBITDA and Revenue multiples are below the averages of comparable transactions, and the Pacer stock traded above the offered price in November 2013.
Pacer shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 237
SOURCE Pomerantz LLP
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