NEW YORK, Sept. 4, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Bolt Technology Corp. ("Bolt" or the "Company") (NasdaqGS: BOLT) concerning the proposed acquisition of the Company by Teledyne Technologies Incorporated ("Teledyne") (NYSE: TDY).
On September 4, 2014, Bolt announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Teledyne in a transaction valued at approximately $171 million. Under the terms of the agreement, Bolt shareholders will receive only $22.00 for each share they own, which is below the Company's 52-week trading high of $22.73.
Our investigation concerns whether the Bolt board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own Bolt shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Peter W. Overs, Jr., Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP