Brodsky & Smith To Investigate Polypore Intl. Board Concerning Co.'s Sale

(RTTNews) - Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Polypore International, Inc. (PPO) for possible breaches of fiduciary duty and other violations of state law concerning the sale of the company to Asahi Kasei Corp.

As per the deal, Polypore shareholders will get $60.50 in cash for each share of Polypore stock they own. The investigation related to whether the Board of Polypore breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Asahi is underpaying for Polypore.

3M Company would acquire the assets of Polypore's Separations Media segment for about $1.0 billion, and Asahi will receive the cash proceeds from the sale before the closure of the deal.

The deal is expected to undervalue Polypore, resulting in a loss for many long term Polypore shareholders.