SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Baker Hughes Incorporated (NYSE: BHI) breached their fiduciary duties in connection with the planned merger of the Company with Halliburton Company. Baker Hughes supplies oilfield services, products, technology, and systems to the oil and natural gas industry worldwide.
On November 17, 2014, Baker Hughes and Halliburton announced that they had entered into a definitive merger agreement. Under the terms of the agreement, stockholders of Baker Hughes will receive, for each Baker Hughes share, a fixed exchange ratio of 1.12 Halliburton shares plus $19.00 in cash. The merger consideration is currently valued at $78.62 per share; however Baker Hughes shareholders will be subject to the future volatility and price fluctuation of Halliburton stock.
The investigation concerns whether the board members of Baker Hughes failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. One Wall Street analyst has a $96.00 price target on the stock which is far more than the $78.62 offer price.
If you are a Baker Hughes shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.