Kendall Law Group Announces New Development in the Thermadyne Holdings Corporation Acquisition Investigation
16 October 2010 - 1:43AM
Business Wire
Kendall Law Group, a national securities firm led by a former
federal judge with attorneys that include a former U.S. Attorney,
is investigating Thermadyne Holdings Corporation (NASDAQ: THMD) for
shareholders in connection to the proposed acquisition by Irving
Place Capital. The firm’s investigation seeks to determine whether
Thermadyne and its Board breached their fiduciary duties by
entering into the agreement without properly shopping for a deal
that would provide better value for shareholders. If you are a
Thermadyne shareholder and would like additional information about
your rights, contact the Kendall Law Group at 877-744-3728 or by
email at skendall@kendalllawgroup.com.
According to a confidential source, Thermadyne directors and
officers were engaged in discussions with at least three entities
regarding a potential merger. Two of the entities were identified
as Thermadyne competitors Illinois Tool Works Inc. and Lincoln
Electric Holdings Inc. On October 5, 2010, the companies announced
the definitive merger agreement under which Thermadyne would be
acquired by Irving Place Capital in a transaction valued at
approximately $422 million. Under the terms of the agreement,
Thermadyne stockholders will receive $15.00 in cash for each share
of Thermadyne/THMD common stock held, which represents a less than
2% premium over the closing price on October 4, 2010. Shareholders
are entitled to more information regarding the existence of
potential competing bidders.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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