Finkelstein Thompson LLP Announces Investigation of Portec Rail Products, Inc.

Under the terms of the agreement, L.B. Foster will make a cash tender offer to acquire all of Portec’s outstanding shares of common stock for $11.71 per share for a total deal value of approximately $112 million. The transaction is subject to the satisfaction of certain conditions, including at least 65% of Portec’s outstanding shares being tendered.

The investigation is focused on the potential unfairness of the price to Portec’s shareholders and the process by which the Portec Board of Directors considered and approved the transaction. Portec stock was trading at $11.24 as recently as February 1, 2010, and at least one analyst set a target price for Portec stock at $12 per share.

If you are interested in discussing your rights as a Portec shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at This email address is being protected from spam bots, you need Javascript enabled to view it