Kirby McInerney LLP is investigating potential claims against the Board of Directors of Intermec, Inc. (NYSE: IN) related to the proposed acquisition of the Company by Honeywell, Inc. (NYSE: HON). Under the terms of the agreement, Honeywell will acquire all outstanding shares of Intermec for $10.00 in cash per share. The agreement values the company at approximately $600 million.
The investigation concerns whether the Intermec Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $10.00 per share consideration adequately values Intermec common stock. The offer price represents a 48% premium to the closing price of shares on November 1, the day before it was announced that Intermec had retained Bank of America Merrill Lynch for assistance with the transaction; however, the offer price fails to take into account Intermec’s steady growth – nearly 40% – during the past 7 months, and the offer may substantially undervalue the Company’s shares.
If you are an Intermec (NYSE: IN) shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or by telephone at (212) 699-1145 or (888) 529-4787.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.
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