SAN DIEGO, Jan. 13, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Hexcel Corporation (NYSE: HXL) ("Hexcel") breached their fiduciary duties in connection with the proposed sale of the Company to Woodward, Inc. (NASDAQ: WWD).
On January 12, 2020, Hexcel announced that it had signed a definitive merger agreement with Woodward. Under the terms of the deal, Hexcel shareholders will receive a fixed exchange ratio of 0.625 shares of Woodward common stock for each share of Hexcel common stock. Based on January 10, 2020, stock closing prices, that values Hexcel shares at $76.23.
The investigation concerns whether the Hexcel board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Hexcel shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth; also, one Wall Street analyst has a $90.00 price target on the stock. The 52-week high for Hexcel was $87.00.
If you are a shareholder of Hexcel and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP