San Diego, CA -- (SBWIRE) -- 02/06/2012 -- The Shareholders Foundation announces that an investigation for investors in NYSE:TNB shares was launched concerning whether the offer by ABB to acquire Thomas & Betts Corp. for $72 per share and the buyout process are unfair to investors in Thomas & Betts (NYSE:TNB) shares.
If you are a current investor in Thomas & Betts Corporation (NYSE:TNB) and purchased NYSE:TNB shares prior to January 30, 2012, you have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether Thomas & Betts Corporation, certain officers and directors, and/or others breached their fiduciary duties to Thomas & Betts Corp (TNB) investors in connection with the proposed acquisition.
On Monday, Jan. 30, 2012, Thomas & Betts Corporation (NYSE: TNB) and ABB (NYSE:ABB) announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9 billion.
However, Thomas & Betts’ financial performance increased over the past years. Therefore the investigation for NYSE:TNB investors concerns whether the Thomas & Betts Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Thomas & Betts Corporation (NYSE:TNB) shareholders by failing to adequately shop the Company before entering into this transaction. The investigation also focuses on whether offer by ABB undervalues NYSE:TNB shares.
Those who are current investors in Thomas & Betts Corporation (Public, NYSE:TNB) and purchased your TNB shares prior to Jan. 30, 2012, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego