NEW YORK, Oct. 20, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Cleco Corporation ("Cleco" or the "Company") (NYSE: CNL) concerning the proposed acquisition of the Company by an investor led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corporation, together with John Hancock Financial and other infrastructure investors (collectively, the "Acquirers").
Under the terms of the transaction, the Acquirers would acquire Cleco in a transaction valued at approximately $4.7 billion. Cleco shareholders are being offered $55.37 in cash for each share. According to Yahoo! Finance, a least one analyst has set a target price for Cleco stock at $58.00 per share.
Our investigation concerns whether the Cleco board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own Clecod shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I. Sachs-Michaels, Esq. Robert I. Harwood, Esq. Craig Lowther Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: ="http://10.86.178.43:2011/Users/bsachsmichaels/Documents/C&D%20Technologiesemail@example.com" rel="nofollow" target="_blank">firstname.lastname@example.org Website: http://www.hfesq.com
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