An investor in NASDAQ:BEAV shares filed a lawsuit against the buyout of B/E Aerospace Inc. by Rockwell Collins.
On October 23, 2016, Rockwell Collins and B/E Aerospace Inc announced that they have entered into an agreement under which Rockwell Collins will acquire B/E Aerospace for approximately $6.4 billion in cash and stock, plus the assumption of $1.9 billion in net debt.
Investors who purchased shares of B/E Aerospace Inc (NASDAQ:BEAV) and currently hold any of those NASDAQ:BEAV shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:BEAV stockholders by agreeing to sell B/E Aerospace Inc too cheaply via an unfair process to Rockwell Collins
Under the terms of the agreement, each B/E Aerospace Inc (NASDAQ:BEAV) shareowner will receive total consideration of $62.00 per share, comprised of $34.10 per share in cash and $27.90 in shares of Rockwell Collins common stock, subject to a 7.5% collar.
However, the plaintiff claims that the proposed consideration NASDAQ:BEAV shareholders will receive is grossly inadequate and undervalues B/E Aerospace Inc. B/E Aerospace Inc reported that its annual Total Revenue rose from over $2.59 billion in 2014 to over $2.72 billion in 2015 and that its Net Income increased from $104.30 million in 2014 to $285.70 million in 2015. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:BEAV stockholders.
Shares of B/E Aerospace Inc closed on December 20, 2016 at $59.64 per share.
Those who are current investors in NASDAQ:BEAV shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego