NEW YORK, Jan. 11, 2010 (GLOBE NEWSWIRE) -- Attorney Advertising. The law firm of Harwood Feffer LLP is investigating possible breaches of fiduciary duty by the Board of Directors of K-Tron ("K-Tron") (NYSE:KTII) arising out of the proposed acquisition of K-Tron by Hillenbrand, Inc. ("Hillenbrand") (NYSE:HI).
On Monday, January 11, 2010, K-Tron announced it had agreed to be acquired by Hillenbrand. The transaction will have an aggregate purchase price of approximately $435 million. Adjusted for K-Tron debt and cash on hand at October 3, 2009, the estimated net purchase price of the deal is approximately $390 million. The final net purchase price will be calculated based upon the K-Tron balance sheet at the date of close.
However, K-Tron may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Hillenbrand may be underpaying for K-Tron, thus unlawfully harming K-Tron shareholders.
Hillenbrand is the holding company for Batesville Casket Company, which sells funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing, and other personalization and memorialization products. K-Tron designs, produces, markets and services material handling equipment and systems, including feeding and pneumatic conveying equipment, and size reduction equipment, conveying systems and screening equipment. K-Tron's headquarters will remain in Pitman, New Jersey.
Harwood Feffer LLP 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.
If you own K-Tron common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
James G. Flynn, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10016
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: jflynn@hfesq.com
Website: http://www.hfesq.com
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