SAN DIEGO, Sept. 5, 2017 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP (formerly Johnson & Weaver, LLP)
has launched an investigation into whether the board members of
Rockwell Collins, Inc. (NYSE: COL) ("Rockwell Collins") breached
their fiduciary duties in connection with the proposed sale of the
Company to United Technologies Corp. (NYSE: UTX) (" United
Technologies"). Rockwell Collins designs, produces and supports
communications and aviation systems worldwide.
On September 4, 2017, Rockwell
Collins announced that it had signed a definitive merger agreement
with United Technologies. Under the terms of the agreement, United
Technologies will acquire Rockwell Collins for $140.00 per share, in cash and stock. Rockwell
Collins shareowner will receive $93.33 per share in cash and $46.67 in shares of United Technologies common
stock, subject to a 7.5 percent collar based on United Technologies
August 22, 2017, closing share price
of $115.69.
The investigation concerns whether the Rockwell Collins board
failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Rockwell Collins shares of common stock. Johnson Fistel is investigating whether the
proposed deal price represents adequate consideration,
especially given the Company's outlook for future revenue and
earnings growth; moreover, one Wall Street analyst has a
$145.00 price target.
If you are a shareholder of Rockwell Collins and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jamesb@johnsonfistel.com) at 619-814-4471.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jamesb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP