HAWAIIAN ELECTRIC INDUSTRIES INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Hawaiian Electric Industries, Inc.

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Dec 04, 2014, 06:10 ET

NEW ORLEANS, Dec. 4, 2014 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Hawaiian Electric Industries, Inc. ("HE" or the "Company") (NYSE: HE) to NextEra Energy, Inc. (NYSE: NEE). Under the terms of the proposed transaction, shareholders of HE will receive consideration valued at approximately $33.50 per share for each share of HE common stock that they own, and consisting of (1) 0.2413 shares of NextEra Energy common stock for each HEI share they own, valued at $25.00 per HE share based on NextEra Energy's volume-weighted average stock price for the 20 trading days ended December 2, 2014; (2) a one-time special cash dividend, to be paid by HE, of $0.50 per HE share for shareholders of record as of the date immediately prior to the closing of the transaction; and (3) shares of ASB Hawaii, through a spinoff transaction, with a current estimated value of $8.00 per share based on consensus analyst estimates. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) or associate Michael J. Palestina ([email protected]) toll free at any time at 855-768-1857.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
206 Covington St.
Madisonville, LA 70447

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SOURCE Kahn Swick & Foti, LLC