DALLAS, Jan. 30, 2012 /PRNewswire/ -- Former United
States Securities and Exchange Commission attorney Willie Briscoe
and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of Thomas & Betts Corporation ("Thomas
& Betts" or "TNB") (NYSE: TNB) to Swiss-based ABB for
shareholders. Under the proposed transaction, Thomas &
Betts shareholders will receive $72.00 in cash for each share of Thomas &
Betts/TNB stock owned.
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If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or
Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to
you.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $3.9
billion. The transaction is expected to close by the
middle of 2012.
The investigation centers on whether Thomas & Betts
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Thomas &
Betts' stock, and whether Thomas & Betts' board attempted to
obtain the highest share price for all shareholders prior to
agreeing to the deal. According to shareholder rights attorney
Willie Briscoe, "Although the
acquisition price represents an approximate 24% premium over the
closing price of Thomas & Betts shares the day prior to the
buyout announcement, Thomas & Betts recently reported positive
financial results for its 2011 fourth quarter, including a 13.4%
increase in net sales and a 31% increase in net earnings from
continuing operations. Based on these and other factors, we
are investigating whether the transaction undervalues Thomas &
Betts stock. Our lawsuit will seek to obtain the highest
share price for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP