Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of KMG Chemicals, Inc. (NYSE: KMG) to Cabot Microelectronics Corporation (NASDAQGS: CCMP). Under the terms of the transaction, KMG shareholders will receive $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock for each KMG share they own. This represents a value of approximately $79.50 per share.
The KMG merger investigation concerns whether the Board of KMG breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cabot Microelectronics Corporation is underpaying for KMG shares, thus unlawfully harming KMG shareholders.
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