NEW YORK, Sept. 12, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Rockwell Collins
Inc. ("COL" or the "Company") (NYSE: COL) in connection with the
proposed acquisition of the Company by United Technologies
Corporation ("UTX") (NYSE: UTX). On September 4, 2017, the companies issued a joint
press release announcing a definitive agreement for UTX to acquire
all outstanding shares of COL in a cash-and-stock transaction
valued at approximately $30
billion. Under the terms of the agreement, the
Company's shareholders will receive $93.33 in cash and $46.67 in UTX shares for each COL share they own,
for a total per-share consideration of $140.00.
WeissLaw is investigating whether COL's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $145.00, or $5.00
above the per-share consideration. Additionally, the
per-share consideration only offers COL shareholders a meagre 3%
premium over the Company's August 29
trading price of $135.31.
Moreover, according to UTX's Chairman and CEO, "[t]his
acquisition adds tremendous capabilities to [UTX's] aerospace
business and strengthens [its] complementary offering of
technologically advanced aerospace systems. . . Together, Rockwell
Collins and [UTX] Aerospace will enhance customer value in a
rapidly evolving aerospace industry."
Given these facts, WeissLaw is investigating whether COL's Board
acted in the best interests of COL's public shareholders and
whether they will obtain their fair proportionate share of the
Company's continued success and future growth prospects. If
you own COL shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/rockwell-collins-inc/
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SOURCE WeissLaw LLP