3M, Ceradyne Hit With Investor Suit Over $860M Merger

Law360, New York (October 12, 2012, 2:52 PM EDT) -- A Ceradyne Inc. investor sued the company and buyout suitor 3M Co. in California court Tuesday in a proposed class action alleging the two have conspired to unfairly push through a $860 million proposed merger, undervaluing the ceramic products manufacturer.

Investor Adam Golovoy filed the suit against both companies and various executives, contending that the $35-per-share offer for Ceradyne, which was announced on Oct. 1, seriously undervalues the business and is being unfairly railroaded for the benefit of both company's executives, rather than Ceradyne shareholders, according...
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