Submitted by Norm Roulet on Mon, 03/14/2011 - 17:36.
Kendall Law Group Investigates The Lubrizol Corporation Acquisition for Shareholders
DALLAS, Mar 14, 2011 (BUSINESS WIRE) --
Kendall Law Group, led by former federal judge Joe Kendall, is investigating The Lubrizol Corporation (NYSE: LZ) for shareholders in connection with the proposed acquisition by Berkshire Hathaway Inc. The national securities firm's investigation seeks to determine whether Lubrizol 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 Lubrizol shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall [at] kendalllawgroup [dot] com.
On March 14, 2011, the companies announced the definitive merger agreement under which Lubrizol would be acquired by Berkshire Hathaway, in a transaction valued at approximately $9 billion. Under the terms of the agreement, Lubrizol stockholders will receive $135.00 in cash for each share of Lubrizol/LZ common stock held. According to Thompson/First Call, analysts have set a price target as high as $148.00 per share for Lubrizol stock. Earlier this year, Lubrizol reported higher-than-expected fourth quarter profits and issued a "bullish forecast for 2011," with Chief Executive Officer James Hambrick stating: "I reiterate my deep confidence in our ability to deliver an eighth consecutive record year of earnings." The firm's investigation seeks to determine whether Lubrizol and its Board negotiated a deal that provides the best value available to shareholders.
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.
SOURCE: Kendall Law Group CONTACT: Kendall Law Group LLP Scott Kendall, 214-744-3000 877-744-3728 Toll Free 214-744-3015 Facsimile skendall [at] kendalllawgroup [dot] com www.kendalllawgroup.com Copyright Business Wire 2011 -0- KEYWORD: United States