NEW YORK, June 13, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Raytheon Company ("RTN" or the "Company") (RTN) in connection with the proposed acquisition of the Company by United Technologies Corp ("UTX"). Under the terms of the agreement, RTN shareholders will receive 2.3348 shares of the combined company for each RTN share they own.
If you are a shareholder of RTN who wishes to discuss the investigation or have any questions about this notice and your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether RTN's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently reported positive financial results. It reported net sales of $6.7 billion and earnings per share of $2.77, representing year-over-year increase of 7.4% and 25% respectively.
Moreover, numerous analysts and a number of activist shareholders have expressed concern over the deal. While the combination will form the second-largest aerospace defense company in the industry, according to analysts at both William Blair and Bloomberg, the deal is not economically compelling for RTN and its shareholders. Additionally, the acquisition of RTN will plug UTX's cash flow drain with anticipated returns of $20 billion to shareholders in the years following the transaction.
Finally, at the close of the transaction, RTN shareholders will own only 43% of the combined company.
WeissLaw is also investigating whether RTN's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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