Solutia Inc. (NYSE: SOA)
Kendall Law Group, led by former federal judge Joe Kendall, is investigating Solutia Inc. (NYSE: SOA) for shareholders in connection with the proposed acquisition by Eastman Chemical. The national securities firm’s investigation seeks to determine whether Solutia 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 Solutia shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On January 27, 2012, the companies announced the definitive merger agreement under which Solutia would be acquired by Eastman Chemical, in a transaction valued at approximately $3.38 billion. Under the terms of the agreement, Solutia stockholders will receive $22.00 in cash and 0.12 shares of Eastman Chemical stock (NYSE: EMN) for each share of Solutia/SOA common stock held. Based on Eastman Chemical’s Thursday closing price, the deal is valued at $27.65 a share. According to Thompson/First Call, analysts have set a price target as high as $31.00 per share for Solutia’s stock. The firm’s investigation seeks to determine whether Solutia and its Board undertook a fair process in negotiating the deal.
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.