$700M Takeover Bid Stiffs Sauer-Danfoss Investors, Suit Says

Law360, Los Angeles (March 21, 2013, 9:24 PM EDT) -- A putative class of Sauer-Danfoss Inc. shareholders on Thursday sued to block a $700 million take-private bid by Danfoss A/S, claiming the industrial manufacturer gave the majority shareholder a sweetheart deal by lowering its financial projections ahead of the merger agreement.

Harold Naparst, who filed the complaint on behalf of Sauer-Danfoss shareholders, said Danish firm Danfoss should be paying $60.05 to $69.07 for each of the company's remaining shares — not the $58.50 price that Sauer-Danfoss' board of directors offered after lowering company financial projections....
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