Levi & Korsinsky is investigating the Board of Directors of Blount International, Inc. (NYSE: BLT) in connection with the sale of the Company to affiliates of American Securities LLC and P2 Capital Partners, LLC. Under the terms of the transaction, shareholders of Blount International will receive $10 in cash per share. P2 Capital Partners, LLC and certain of its affiliates, collectively holding approximately 14.9% of Blount’s outstanding shares, have already agreed to tender their shares.
The investigation concerns whether the Board of Blount International breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the affiliates of American Securities LLCC and P2 Capital Partners, LLC are underpaying for Blount International shares.
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