The firm is investigating the following transaction on behalf of shareholders.
Flanders Corporation (OTCBB: FLDR), has entered into a definitive agreement to be acquired by an affiliate of Insight Equity Holdings LLC (Insight Equity), a middle-market private equity firm, in a transaction valued at approximately $192 million excluding fees and expenses.
Under the terms of the agreement, upon consummation of the transaction Flanders' shareholders will receive $4.40 per share in cash for each share of Flanders' common stock, representing a premium of 39 percent over the average closing share price of $3.17 during the last 30 days ending March 16, 2012 and a 42 percent premium over Flanders' average closing share price of $3.10 during the last 90 days ending March 16, 2012.
The transaction is subject to shareholder approval and other customary closing conditions and is targeted to close in the second quarter of 2012.
Oppenheimer & Co. Inc. is acting as Flanders' exclusive financial advisor. McGuireWoods LLP serves as special counsel to Flanders' board in connection with this transaction. Johnson, Pope, Bokor, Ruppel & Burns, LLP serves as Flanders' general corporate counsel. Hunton & Williams LLP is acting as legal advisor to Insight Equity and its affiliates.
PNC Bank, National Association, member of The PNC Financial Services Group, Inc., has committed to provide a senior revolving credit facility in support of the transaction. FS Investment Corporation (which is advised by FB Income Advisor, LLC and sub-advised by GSO / Blackstone Debt Funds Management LLC) has committed to provide unitranche and mezzanine debt financing and equity financing in support of the transaction.
If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.