NEW YORK, June 13, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Raytheon
Company ("RTN" or the "Company") (NYSE: RTN) in connection with the
proposed acquisition of the Company by United Technologies Corp
("UTX"). Under the terms of the agreement, RTN shareholders
will receive 2.3348 shares of the combined company for each RTN
share they own.
If you are a shareholder of RTN who wishes to discuss the
investigation or have any questions about this notice and your
rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888)593-4771
stockinfo@weisslawllp.com
Or visit our website
http://www.weisslawllp.com/raytheon-company/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether RTN's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company recently reported positive financial results.
It reported net sales of $6.7
billion and earnings per share of $2.77, representing year-over-year increase of
7.4% and 25% respectively.
Moreover, numerous analysts and a number of activist
shareholders have expressed concern over the deal. While the
combination will form the second-largest aerospace defense company
in the industry, according to analysts at both William Blair and Bloomberg, the deal is not
economically compelling for RTN and its shareholders.
Additionally, the acquisition of RTN will plug UTX's cash flow
drain with anticipated returns of $20
billion to shareholders in the years following the
transaction.
Finally, at the close of the transaction, RTN shareholders will
own only 43% of the combined company.
WeissLaw is also investigating whether RTN's Board conducted a
fair process in agreeing to the proposed merger, whether the
proposed merger undervalues the Company, and whether all material
information related to the proposed merger is fully and fairly
disclosed.
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
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SOURCE WeissLaw LLP