Shaw Investor Challenges $2B Sale To Chicago Bridge

Law360, New York (October 19, 2012, 5:59 PM EDT) -- A Shaw Group Inc. shareholder lobbed a suit against the company and buyout suitor Chicago Bridge & Iron Co. NV in Louisiana federal court on Friday, challenging its $2 billion proposed merger as unfair and company statements as misleading.

Investor Peter Osten sued the companies and various executives contending that the $46-per-share, cash-and-stock buyout undervalues Shaw, which has posted steadily positive financial results over recent months. He also contends that investor documents fail to adequately disclose the negotiation process leading up to the deal and other...
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