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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Rockwell Collins, Inc. (delisted) | NYSE:COL | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 141.04 | 0 | 01:00:00 |
From Jul 2019 to Jul 2024
SAN DIEGO, Sept. 5, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP (formerly Johnson & Weaver, LLP) has launched an investigation into whether the board members of Rockwell Collins, Inc. (NYSE: COL) ("Rockwell Collins") breached their fiduciary duties in connection with the proposed sale of the Company to United Technologies Corp. (NYSE: UTX) (" United Technologies"). Rockwell Collins designs, produces and supports communications and aviation systems worldwide.
On September 4, 2017, Rockwell Collins announced that it had signed a definitive merger agreement with United Technologies. Under the terms of the agreement, United Technologies will acquire Rockwell Collins for $140.00 per share, in cash and stock. Rockwell Collins shareowner will receive $93.33 per share in cash and $46.67 in shares of United Technologies common stock, subject to a 7.5 percent collar based on United Technologies August 22, 2017, closing share price of $115.69.
The investigation concerns whether the Rockwell Collins board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Rockwell Collins shares of common stock. Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given the Company's outlook for future revenue and earnings growth; moreover, one Wall Street analyst has a $145.00 price target.
If you are a shareholder of Rockwell Collins and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jamesb@johnsonfistel.com) at 619-814-4471.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jamesb@johnsonfistel.com
View original content:http://www.prnewswire.com/news-releases/rockwell-collins-col-alert-johnson-fistel-investigates-proposed-sale-of-rockwell-collins-inc-are-shareholders-getting-a-fair-deal-300513744.html
SOURCE Johnson Fistel, LLP
Copyright 2017 PR Newswire
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