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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Layne Christensen Company (NASDAQ: LAYN) to Granite Construction Inc. (NYSE: GVA). Under the terms of the transaction, Layne Christensen shareholders will receive 0.270 Granite shares for each share of Layne Christensen stock they own.
The investigation concerns whether the Board of Layne Christensen breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Granite Construction is underpaying for Layne Christensen shares, thus unlawfully harming Layne Christensen shareholders.
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