Layne Christensen (LAYN) ALERT: Johnson Fistel Investigates Proposed Sale of Layne Christensen Company; Are Shareholders Getting a Fair Deal?

SAN DIEGO, Feb. 14, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Layne Christensen Company (NASDAQ: LAYN) ("Layne Christensen") breached their fiduciary duties in connection with the proposed sale of the Company to Granite Construction Incorporated (NYSE: GVA) ("Granite Construction").

On February 14, 2018, Layne Christensen announced that it had signed a definitive merger agreement with Granite Construction. Under the terms of the agreement, Layne Christensen shareholders will receive a fixed exchange ratio of 0.270 Granite Construction shares for each share of Layne Christensen common stock they own. This represents $17.00 per Layne Christensen share, based on the volume-weighted average prices for Granite Construction and Layne Christensen shares over the past 90 trading days. However, shareholders will be subject to the future price fluctuation of Granite Construction's stock price.

The investigation concerns whether the Layne Christensen board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Layne Christensen shares of common stock.

If you are a shareholder of Layne Christensen and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP