NEW YORK, June 13, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors EMS Technologies ("EMS" or the "Company") concerning the proposed acquisition of EMS by Honeywell International ("Honeywell") in a transaction valued at $491 million.
The investigation concerns whether the board of directors breached their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Honeywell would pay shareholders $33.00 per share in cash. The purchase price translates to approximately 13 times EMS's 2010 earnings before interest, tax, depreciation and amortization ("EBITDA"), or approximately nine times 2010 EBITDA excluding certain corporate costs. The purchase price actually represents lower revenue and net income multiples than those offered in similar wireless equipment acquisitions.
EMS shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at email@example.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP 888-476-6529 (ext. 237) 212-661-1100 (ext. 237) email@example.com