A lawsuit was filed for investors of Intermec Inc. (NYSE:IN) in effort to block the proposed takeover and NYSE:IN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/19/2012 -- An investor in shares of Intermec Inc. (NYSE:IN) filed a lawsuit in effort to halt the proposed takeover of Intermec Inc. by Honeywell International Inc. at $10.00 per NYSE:IN share.
Investors who purchased shares of Intermec Inc. (NYSE:IN) prior to Dec. 10, 2012, and currently hold any of those NYSE:IN shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed NYSE:IN stockholder by agreeing to sell the company too cheaply via an unfair price to Honeywell International
On Dec. 10, 2012, Intermec, Inc. (NYSE:IN) announced an agreement under which Honeywell International Inc. (NYSE:HON) will acquire Intermec for $10.00 per share in an all-cash transaction valued at approximately $600 million, net of cash and debt acquired.
However, the plaintiff alleges that the $10.00 offer is too low and undervalues the company. Indeed, NYSE:IN shares traded in 2011 as high as$12.41 per share. In addition, Intermec Inc. reported that its annual Revenue rose from $658.21 million in 2009 to $848.18 million in 2011.
Those who are current investors in Intermec Inc. (NYSE:IN), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego