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Intermec Inc. (NYSE:IN) Investor Files Lawsuit To Halt Takeover by Honeywell International Inc.

  • If you purchased shares of Intermec Inc. (NYSE:IN) prior to Dec. 10, 2012, and currently hold any of those NYSE:IN shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Intermec Inc.
Security
NYSE: IN

Case Name
Intermec Deal Case 12/17/2012
Type of Lawsuit
Mergers and Acquisition
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Summary

Dec. 18, 2012 (Shareholders Foundation) -- An investor in shares of Intermec Inc. (NYSE:IN) filed a lawsuit in effort to halt the proposed takeover of Intermec Inc. by Honeywell International Inc. at $10.00 per NYSE:IN share.
The plaintiff alleges that the defendants breached their fiduciary duties owed NYSE:IN stockholder by agreeing to sell the company too cheaply via an unfair price to Honeywell International

On Dec. 10, 2012, Intermec, Inc. (NYSE:IN) announced an agreement under which Honeywell International Inc. (NYSE:HON) will acquire Intermec for $10.00 per share in an all-cash transaction valued at approximately $600 million, net of cash and debt acquired.

However, the plaintiff alleges that the $10.00 offer is too low and undervalues the company. Indeed, NYSE:IN shares traded in 2011 as high as$12.41 per share. In addition, Intermec Inc. reported that its annual Revenue rose from $658.21 million in 2009 to $848.18 million in 2011.