Thomas & Betts Corporation (NYSE:TNB) under Investor Investigation over Takeover Offer By ABB

If you are a current investor in Thomas & Betts Corporation (NYSE:TNB) and purchased NYSE:TNB shares prior to January 30, 2012, you have certain options and should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Thomas & Betts
Affected Securities: 
NYSE: TNB

San Diego, Jan. 30, 2012 (Shareholders Foundation) -- The announcement by ABB that it will acquire Thomas & Betts Corporation (NYSE:TNB) for $72 per share prompted an investigation for investors in NYSE:TNB shares concerning whether the offer to acquire Thomas & Betts Corp. and the buyout process are unfair to investors in Thomas & Betts (NYSE:TNB) shares.

The investigations by law firms concern whether Thomas & Betts Corporation, certain officers and directors, and/or others breached their fiduciary duties to Thomas & Betts Corp (TNB) investors in connection with the proposed acquisition.

On Monday, Jan. 30, 2012, Thomas & Betts Corporation (NYSE: TNB) and ABB (NYSE: ABB) announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9 billion.

Following the takeover announcement shares of Thomas & Betts Corporation (Public, NYSE:TNB) jumped from $57.95 on Friday to $71.24 on Monday.

However, Thomas & Betts’ financial performance increased over the past years. Its Total Revenue increased from $1.83billion for a 52weeks period ending on Dec. 31, 2009 to $2.00bilion for a 52weeks period ending on Dec. 31, 2010.

Therefore the investigation for NYSE:TNB investors concerns whether the Thomas & Betts Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Thomas & Betts Corporation (NYSE:TNB) shareholders by failing to adequately shop the Company before entering into this transaction. The investigation also focuses on whether offer by ABB undervalues NYSE:TNB shares. A potential securities class action lawsuit would seek to maximize the amount of money and information Thomas & Betts Corp (TNB) shareholders would receive in a buyout, so the law firm.