Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Herley Industries, Inc.
NEW YORK--(BUSINESS WIRE)--Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Herley Industries, Inc. (NASDAQ: HRLY - News) (referred to as "Herley" or the “Company”) by Kratos Defense & Security Solutions, Inc. (“Kratos”) in a cash transaction valued at approximately $270 million.
Under the terms of the agreement, Kratos will commence, no later than February 25, 2011, a cash tender offer for all issued and outstanding shares of Herley common stock at $19.00 per share, without interest. Following completion of the tender offer, Kratos will acquire the remaining outstanding shares of Herley common stock for $19.00 per share in cash, without interest, through a second-step merger. The acquisition is expected to close during the first quarter of 2011.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders. If you are a holder of Herley stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.
If you are a shareholder of Herley and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (212) 213-6222 or by sending an e-mail including your contact information to: counsel@nyclasslaw.com. All e-mail correspondence should make reference to Herley.
Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at www.nyclasslaw.com.
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