Pomerantz Law Firm Investigates Claims on Behalf of Investors of Thomas & Betts Corporation
January 30 2012 - 1:34PM
Business Wire
Pomerantz Haudek Grossman & Gross LLP is investigating
claims on behalf of investors of Thomas & Betts Corporation
(“Thomas & Betts” or the “Company”) (NYSE: TNB) (ISIN:
US8843151023) concerning the proposed acquisition of Thomas &
Betts by ABB in a cash transaction valued at approximately $3.9
billion.
The investigation concerns whether the Thomas & Betts
directors are breaching their fiduciary duties by failing to
adequately shop the Company and maximize shareholder value. Under
the terms of the agreement, Thomas & Betts shareholders will
receive $72.00 for each share of common stock. However, the price
to EBITDA and net income multiples that ABB would be paying TNB
shareholders is below that of comparable transactions.
Thomas & Betts shareholders seeking more information about
this acquisition are advised to contact Gustavo Bruckner, Esq. at
gfbruckner@pomlaw.com or 212-661-1100 or toll free at 888-476-6529,
ext. 302. Shareholders may also contact Rebecca Jarmon at
rjarmon@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York, Chicago, and
Washington, D.C., is acknowledged as one of the premier firms in
the areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L. Pomerantz, known as the dean of the
class action bar, the Pomerantz Firm pioneered the field of
securities class actions. Today, more than 70 years later, the
Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of
fiduciary duty, and corporate misconduct. The Firm has recovered
numerous multimillion-dollar damages awards on behalf of class
members. See www.pomerantzlaw.com.
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