Investor Seeks Records In $1.37B Takeover Of Building Co.

Law360 (January 4, 2021, 5:58 PM EST) -- A pension fund demanded records detailing the $1.37 billion private equity takeover of building materials company Foundation Building Materials, telling the Delaware Chancery Court that it wants to determine whether the deal was fairly valued.

Firefighters' Pension System of the City of Kansas City, Missouri Trust, an investor in California-headquartered Foundation Building Materials Inc., said that the company hadn't yet provided the records needed to evaluate the deal. The complaint, filed New Year's Day, seeks a court order requiring Foundation Building Materials to immediately allow the records to be inspected.

The pension fund said an examination of company records will allow...

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