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If you purchased shares of Exelis Inc (NYSE:XLS) and currently hold any of those NYSE:XLS shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
February 09, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Exelis Inc (NYSE:XLS), was announced concerning whether the takeover of Exelis Inc by Harris Corporation at $23.75 per share is unfair to NYSE:XLS stockholders.
The investigation by a law firm concerns whether certain officers and directors of Exelis Inc breached their fiduciary duties owed to NYSE:XLS investors in connection with the proposed acquisition.
On February 6, 2015, Harris Corporation (NYSE:HRS) and Exelis, Inc. (NYSE:XLS) announced an agreement under which Harris Corporatio will acquire Exelis in a cash and stock transaction valued at $23.75 per share, or an approximately $4.75 billion enterprise value.
However, given that following the acquisition news NYSE:XLS shares jumped to $24.33 per share on February 6, 2015, the investigation concerns whether the offer is unfair to NYSE:XLS stockholders. More specifically, the investigation concerns whether the Exelis 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.
