Kendall Law Group investigates AirTran Holdings Inc. merger for shareholders
27-Sep-2010 Kendall Law Group, led by former federal judge Joe Kendall, is investigating AirTran Holdings Inc. (NYSE: AAI) for shareholders in connection with the proposed acquisition by Southwest Airlines.
The national securities firm's investigation seeks to determine whether AirTran 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 an AirTran 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.
On September 27, 2010, the companies announced that they had entered into a definitive merger agreement under which AirTran would be acquired by Southwest in a transaction valued at approximately $1.37 billion. Under the terms of the agreement, AirTran stockholders will receive a combination of Southwest common stock and cash valued between $7.25 and $7.75, with at least $3.75 in cash, for each share of AirTran/AAI common stock held. According to Thompson/First Call, at least one analyst has set a price target of $11 per share for AirTran stock. Due to these factors, the firm believes the transaction may be undervaluing the company.
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.