WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Rockwell Collins Inc. (“COL” or the “Company”) (NYSE: COL) in connection with the proposed acquisition of the Company by United Technologies Corporation (“UTX”) (NYSE: UTX). On September 4, 2017, the companies issued a joint press release announcing a definitive agreement for UTX to acquire all outstanding shares of COL in a cash-and-stock transaction valued at approximately $30 billion. Under the terms of the agreement, the Company’s shareholders will receive $93.33 in cash and $46.67 in UTX shares for each COL share they own, for a total per-share consideration of $140.00.
WeissLaw is investigating whether COL’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $145.00, or $5.00 above the per-share consideration. Additionally, the per-share consideration only offers COL shareholders a meagre 3% premium over the Company’s August 29 trading price of $135.31.
Moreover, according to UTX’s Chairman and CEO, “[t]his acquisition adds tremendous capabilities to [UTX’s] aerospace business and strengthens [its] complementary offering of technologically advanced aerospace systems. . . Together, Rockwell Collins and [UTX] Aerospace will enhance customer value in a rapidly evolving aerospace industry.”
Given these facts, WeissLaw is investigating whether COL’s Board acted in the best interests of COL’s public shareholders and whether they will obtain their fair proportionate share of the Company’s continued success and future growth prospects. If you own COL shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/rockwell-collins-inc/