Shareholders Foundation, Inc.

Exelis Inc (NYSE:XLS) Investor Alert: Investigation of Takeover by Harris Corporation

An investigation on behalf of investors of Exelis Inc (NYSE:XLS) in connection with the proposed takeover was announced and NYSE:XLS stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 02/10/2015 -- An investigation on behalf of investors, who currently hold shares of Exelis Inc (NYSE:XLS), was announced concerning whether the takeover of Exelis Inc by Harris Corporation at $23.75 per share is unfair to NYSE:XLS stockholders.

Investors who purchased shares of Exelis Inc (NYSE:XLS) and currently hold any of those NYSE:XLS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Exelis Inc breached their fiduciary duties owed to NYSE:XLS investors in connection with the proposed acquisition.

On February 6, 2015, Harris Corporation (NYSE:HRS) and Exelis, Inc. (NYSE:XLS) announced an agreement under which Harris Corporatio will acquire Exelis in a cash and stock transaction valued at $23.75 per share, or an approximately $4.75 billion enterprise value.

However, given that following the acquisition news NYSE:XLS shares jumped to $24.33 per share on February 6, 2015, the investigation concerns whether the offer is unfair to NYSE:XLS stockholders. More specifically, the investigation concerns whether the Exelis Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

On February 6, 2015, shares of Exelis Inc (NYSE:XLS) closed at $24.13 per share.

Those who are current investors in Exelis Inc (NYSE:XLS) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com