An investigation on behalf of investors of UIL Holdings Corporation (NYSE:UIL) in connection with the proposed takeover was announced and NYSE:UIL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/04/2015 -- An investigation on behalf of investors, who currently hold shares of UIL Holdings Corporation (NYSE:UIL), was announced concerning whether the takeover of UIL Holdings Corporation by Iberdrola USA for a value of $52.75 per share is unfair to NYSE:UIL stockholders.
Investors who purchased shares of UIL Holdings Corporation (NYSE:UIL) and currently hold any of those NYSE:UIL 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 UIL Holdings Corporation breached their fiduciary duties owed to NYSE:UIL investors in connection with the proposed acquisition.
On February 25, 2015, Iberdrola USA and UIL Holdings Corporation (NYSE:UIL) announced that they have entered into an agreement under which Iberdrola USA will acquire UIL Holdings Corporation (NYSE:UIL) and create a newly listed U.S. publicly-traded company. The proposed transaction implies total value per share to UIL Holdings Corporation (NYSE:UIL) shareholders of $52.75.
However, the investigation concerns whether the offer is unfair to NYSE:UIL stockholders. More specifically, the investigation concerns whether the UIL Holdings 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.
UIL Holdings Corporation reported that its annual Total Revenue rose from over $1.48 billion in 2012 to over $1.61 billion in 2013 and that its respective Net Income increased from $103.70 million to $115.32 million.
Shares of UIL Holdings Corporation (NYSE:UIL) grew from $34.72 per share in August 2014 to as high as $47.36 per share in late January 2015.
On March 2, 2015, NYSE:UIL shares closed at $50.50 per share.
Those who are current investors in UIL Holdings Corporation (NYSE:UIL) 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