WILMINGTON, Del., Dec. 5, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Hawaiian Electric Industries, Inc. (NYSE: HE)?
- Did you purchase any of your shares prior to December 4, 2014?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Hawaiian Electric Industries, Inc. ("HEI" or the "Company") (NYSE: HE) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by NextEra Energy, Inc. ("NextEra") (NYSE: NEE), in a transaction valued at approximately $4.3 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/hawaiian-electric-industries-inc-he.
Under the terms of the agreement, HEI shareholders will receive an estimated total value of approximately $33.50 per share. The total value will consist of (i) 0.2413 shares of NextEra common stock, valued at $25.00 per HEI share, based on NextEra's volume-weighted average stock price for the 20 trading days ended Dec. 2, 2014; (ii) a one-time special cash dividend, to be paid by HEI, of $0.50 per HEI share for shareholders of record as of the date immediately prior to the closing of the transaction; and (iii) shares of ASB Hawaii, through a spinoff transaction, with a current estimated value of $8.00 per share based on consensus analyst estimates.
The investigation concerns whether HEI's board of directors failed to adequately shop the Company and obtain the best possible value for HEI's shareholders before entering into an agreement with NextEra.
If you own the common stock of HEI and purchased your shares before December 4, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/hawaiian-electric-industries-inc-he.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
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SOURCE Rigrodsky & Long, P.A.