More Business News:
Former Federal Judge at Kendall Law Group Begins Shareholder Investigation into Black & Decker Merger
DALLAS -- Kendall Law Group, led by a former federal judge, today began an investigation on behalf of Black & Decker (NYSE: BDK) shareholders. The investigation concerns possible breaches of fiduciary duty in connection with the proposed acquisition by Stanley Works for $4.5 billion.
Stanley shareholders will own about 50.5 percent of the combined company, which will be called Stanley Black & Decker. Black & Decker shareholders will hold a 49.5 percent stake after the all-stock deal is complete. Stanley will pay 1.275 shares per Black & Decker share, or $57.56 as of Monday's close. The proposed transaction is a 22 percent premium for Black & Decker shareholders.
Kendall Law Group's investigation concerns whether the consideration to be paid to shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the Company and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders' best interests in connection with the sale process.
The firm has significant experience representing investors in mergers and acquisitions. For information about your rights as a BDK shareholder or if you have information about this merger to share - contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.