SAN DIEGO, Oct. 24, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of B/E Aerospace, Inc. (NASDAQ: BEAV) breached their fiduciary duties in connection with the proposed sale of the Company to Rockwell Collins Inc. B/E designs, manufactures, sells, and services cabin interior products for commercial aircraft and business jets.
On October 23, 2016, B/E announced it had signed a definitive merger agreement with Rockwell Collins. Terms of the deal call for Rockwell Collins to pay $34.10 in cash and stock worth $27.90 a piece for a total consideration of $62.00 per share in cash and stock for B/E.
The investigation concerns whether the B/E board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for B/E shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $66.00 price target on the stock.
B/E has change of control provisions for key executives. As of December 31, 2015, potential payments upon termination or change-in-control, was valued at over $25 million.
If you are a shareholder of B/E and believe (1) the proposed buyout price is too low or (2) the merger benefits management more than the shareholders, and (3) you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP