Bolt Shareholder Alert - Buyout Of Bolt Technology - National Securities Law Firm Seeks Higher Price For Shareholders
NEW YORK, Sept. 4, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Bolt Technology Corporation (NASDAQ: BOLT) ("Bolt" or the "Company") on behalf of its shareholders. Teledyne Technologies Incorporated ("Teledyne") and Bolt jointly announced that they have entered into a definitive agreement that provides for the merger of Bolt with a wholly-owned subsidiary of Teledyne. Pursuant to the transaction, Teledyne will acquire all of the outstanding common shares of Bolt for $22.00 per share payable in cash.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Bolt for not acting in Bolt shareholders' best interests in connection with the sale process of Bolt. The investigation seeks to determine if there was an adequate auction process and if Teledyne is underpaying for Bolt shares. Indeed, Bolt has no long term debt and has over $21 million in cash or $2.47 per share. Further, Bolt recently traded as high as $22.76 per share this past year.
If you are a shareholder of Bolt and would like additional information as to how the acquisition may affect your rights as a shareholder, please call us at no cost at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: [email protected]
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article