Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Hawk Corporation
October 22 2010 - 10:25AM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
acquisition of Hawk Corporation (AMEX: HWK) (referred to as "Hawk"
or the “Company”) by Carlisle Companies Incorporated ("Carlisle")
in a cash transaction with an equity value of approximately $413
million and an enterprise value of approximately $410 million.
Under the terms of the definitive agreement shareholders of Hawk
will receive $50.00 per share in cash. The transaction is
structured as a cash tender offer to be followed as soon as
possible by a merger. The tender offer is expected to commence
later this month and is subject to customary terms and conditions,
including the tender of at least a majority of Hawk’s shares on a
fully diluted basis and regulatory clearance. Ronald E. Weinberg,
Hawk's Chairman and CEO, along with directors Norman Harbert and
Byron Krantz, who collectively hold approximately 34% of Hawk's
outstanding common stock, have entered into agreements with
Carlisle to tender their shares.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders.
If you are a holder of Hawk stock and want to discuss your legal
rights, you may e-mail or call Bull & Lifshitz, LLP who will,
without obligation or cost to you, attempt to answer your
questions.
If you are a shareholder of Hawk and would like more information
about our investigation, please contact Joshua M. Lifshitz, Esq. by
telephone at (866) 313-6222 or by sending an e-mail including your
contact information to: counsel@nyclasslaw.com. All e-mail
correspondence should make reference to Hawk.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions and securities fraud class actions. For
more information about the firm, please visit our website at
www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2010 Bull & Lifshitz, LLP.
The law firm responsible for this advertisement is Bull &
Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212)
213-6222. Prior results do not guarantee or predict a similar
outcome with respect to any future matter.
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