Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of Hawaiian Electric Industries, Inc. Stockholders
December 04 2014 - 9:05PM
Business Wire
Kirby McInerney LLP is investigating potential claims against
Hawaiian Electric Industries, Inc. (“HEI” or the “Company”)
(NYSE:HE) concerning the proposed acquisition of the Company by
NextEra Energy, Inc. (“NextEra”) (NYSE:NEE). Additionally, and
contingent upon the completion of the proposed transaction, HEI
announced a plan to spin off ASB Hawaii, the parent company of
American Savings Bank, to HEI shareholders and establish it as an
independent publicly traded company.
Under the terms of the definitive agreement, HEI stockholders
are expected to receive a total value estimated at $35.50 per
share, consisting of a one-time cash dividend payment of $0.50 and
0.2413 shares of NextEra common stock for each share of HEI common
stock they own, and approximately $8.00 per share of ASB Hawaii.
The transaction is valued at approximately $2.60 billion.
The investigation concerns whether the HEI Board of Directors
violated its fiduciary duties by agreeing to the proposed
transaction and whether the proposed consideration adequately
values the Company’s common stock.
If you are a HEI stockholder and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email
at bwalker@kmllp.com, or telephone at (212) 699-1145, Melissa
Fortunato, Esq. by email at mfortunato@kmllp.com, or telephone at
(212) 699-1141, or toll free at (888) 529-4787, or by filling out
this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating
in securities, whistleblower, antitrust and consumer litigation.
For additional information, please go to www.kmllp.com.
Kirby McInerney LLPJ. Brandon Walker, Esq.,
212-699-1145bwalker@kmllp.comorMelissa Fortunato, Esq.,
212-699-1141mfortunato@kmllp.comorToll free: 888-529-4787
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