NEW YORK--(BUSINESS WIRE)--
Kirby McInerney LLP is investigating potential claims against Hawaiian
Electric Industries, Inc. (“HEI” or the “Company”) (NYSE:HE) concerning
the proposed acquisition of the Company by NextEra Energy, Inc.
(“NextEra”) (NYSE:NEE). Additionally, and contingent upon the completion
of the proposed transaction, HEI announced a plan to spin off ASB
Hawaii, the parent company of American Savings Bank, to HEI shareholders
and establish it as an independent publicly traded company.
Under the terms of the definitive agreement, HEI stockholders are
expected to receive a total value estimated at $35.50 per share,
consisting of a one-time cash dividend payment of $0.50 and 0.2413
shares of NextEra common stock for each share of HEI common stock they
own, and approximately $8.00 per share of ASB Hawaii. The transaction is
valued at approximately $2.60 billion.
The investigation concerns whether the HEI Board of Directors violated
its fiduciary duties by agreeing to the proposed transaction and whether
the proposed consideration adequately values the Company’s common stock.
If you are a HEI stockholder and wish to obtain additional information,
please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com,
or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at mfortunato@kmllp.com,
or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling
out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in
securities, whistleblower, antitrust and consumer litigation. For
additional information, please go to www.kmllp.com.
Kirby McInerney LLP
J. Brandon Walker, Esq., 212-699-1145
bwalker@kmllp.com
or
Melissa
Fortunato, Esq., 212-699-1141
mfortunato@kmllp.com
or
Toll
free: 888-529-4787
Source: Kirby McInerney LLP