Eaton To Buy Cooper Industries For $11.8B

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Cooper Industries to Eaton Corp. for shareholders. Under the proposed acquisition agreement, Cooper shareholders will receive only $39.15 in cash and 0.77479 shares of New Eaton for each share of Cooper stock owned, which as of closing Friday, equates to approximately $72 per share in total.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The definitive merger agreement is expected to close in the second half of 2012, and the transaction is valued at approximately $11.8 billion.

The investigation centers on whether Cooper shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Cooper's stock, and whether Cooper's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Specifically, according to Yahoo! Finance, at least one analyst has estimated that the true inherent value of the Cooper/CBE stock is $75.00 per share, well above the acquisition price. "Due to the lack of a significant premium to Cooper shareholders, and other facts, we are concerned that shareholders may not be receiving a fair price for their Cooper shares," said shareholder rights attorney Willie Briscoe.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.