Kirby McInerney LLP is investigating potential claims against Penford
Corporation (“Penford” or the “Company”) (NASDAQ: PENX) concerning the
proposed acquisition of the Company by Ingredion Incorporated
(“Ingredion”) (NYSE: INGR). Under the terms of the definitive merger
agreement, Penford stockholders will receive $19.00 in cash for each
share of Penford common stock they own, valuing the transaction at
approximately $340 million.
The investigation concerns whether the Penford Board of Directors
violated its fiduciary duties by agreeing to the proposed transaction
and whether the proposed consideration adequately values the Company’s
common stock.
If you are a Penford stockholder and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com,
or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at mfortunato@kmllp.com,
or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling
out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in
securities, whistleblower, antitrust and consumer litigation. For
additional information, please go to www.kmllp.com.
Copyright Business Wire 2014