This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Block & Leviton LLP Investigates Intermec Inc. For Possible Breaches Of Fiduciary Duty In Connection With Its Acquisition By Honeywell International Inc.

BOSTON, Dec. 10, 2012 /PRNewswire/ -- Block & Leviton LLP ( www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of Intermec Inc. ("Intermec" or the "Company") (NYSE: IN) concerning the proposed acquisition of the Company by Honeywell International Inc. ("Honeywell") in a cash transaction scheduled to close by the second quarter of 2013.

Under the terms of the proposed merger agreement, Honeywell will acquire Intermec in a cash deal for approximately $10.00 per Intermec share, setting a value for the Company at approximately $600 million.  However, it appears that this price fails to take into account the fact that Intermec common stock has been steadily climbing, gaining 16% just since November 1, 2012, and nearly 40% since May, 2012.  Moreover, the Company recently announced a $17.7 million improvement in adjusted operating profit with a $21 million incremental increase in revenue.  As such, it appears that the transaction premium offers insufficient recognition of Intermec's growth potential.

Block & Leviton's investigation seeks to determine, among other things, whether Intermec's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed acquisition by Honeywell and the overall fairness of the process by which the Intermec Directors considered and approved the transaction.

If you are an Intermec shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at (617) 398-5600 or email him at Steven@blockesq.com.   

Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.  This notice may constitute attorney advertising.

Contact:  BLOCK & LEVITON LLP  Steven P. Harte, Esq.  steven@blockesq.com (617) 398-5600

SOURCE Block & Leviton LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.12 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs