Kendall Law Group Investigates Hawk Corporation for Shareholders
October 15 2010 - 11:44AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Hawk Corporation (AMEX:HWK) for shareholders in
connection with the proposed acquisition by Carlisle Companies
Incorporated. The national securities litigation firm is
investigating whether a fair process was used prior to entering
into the merger agreement and whether the Board of Directors
breached their fiduciary duties by not seeking a deal that would
provide better value of the Company. If you are a Hawk shareholder
and would like additional information about your rights, you are
urged to contact the Kendall Law Group at 877-744-3728 or by email
at skendall@kendalllawgroup.com.
On October 15, 2010, the companies announced that the companies
have entered into a definitive merger agreement under which Hawk
would be acquired by Carlisle in a transaction valued at
approximately $413 million. The offer is expected to commence later
this month and is not subject to a financing condition. The CEO and
two directors of Hawk, who collectively hold 34% of Hawk’s
outstanding stock, have entered into agreements to tender their
shares. Under the terms of the agreement, Hawk stockholders will
receive $50.00 in cash for each share of HWK common stock owned.
Because this offer represents only 2% premium over the closing
price of $49.01 on October 14, 2010, the firm believes the
transaction significantly undervalues the company.
Kendall Law Group, founded by a former federal judge, includes a
former United States Attorney, prosecutors and securities lawyers
who are experienced in complex securities litigation. The firm has
been counsel in many merger and acquisition cases nationwide,
including some of the largest transactions in the United
States.
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