SL INDUSTRIES ALERT – National Securities Law Firm Seeks Higher Price for Shareholders in Connection with Proposed Acquisition, and Encourages Shareholders to Contact Law Firm for More Information
June 22, 2015
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the proposed acquisition of SL Industries, Inc. (NYSE: SLI) (“SLI” or the “Company”) by Handy & Harman Ltd. (“Handy & Harman”) to acquire SLI. Handy & Harman is an affiliate of Steel Partners Holdings L.P., which beneficially owns 25.3% of SLI’s outstanding common stock, and two of the five members of SLI’s board of directors are affiliated with Handy & Harman, including SLI’s chairman. Under the terms of the proposed transaction, SLI’s shareholders will be able to elect to receive cash or Handy & Harman stock, at per share price range of $43.00 to $45.00 per share.
Our investigation has determined that the price of only $43 to $45 per share unfairly under-values the true going forward inherent value of SLI and that shareholders are not receiving the maximum value for their shares. Indeed, the stock traded as high as $51.96 this past year, and the Company has no long term debt. The investigation further seeks to determine whether the senior management of SLI is entering into this deal for their own self-interests to the detriment of the Company’s shareholders.
If you are a shareholder of SLI and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.