Ademi LLP is investigating Kaman (NYSE: KAMN) for possible breaches of fiduciary duty and other violations of law in its transaction with Arcline.
In the transaction, Kaman stockholders will receive only $46.00 per share in an all-cash transaction with a total enterprise value of approximately $1.8 billion. The transaction agreement unreasonably limits competing transactions for Kaman by imposing a significant penalty if Kaman accepts a competing bid. Kaman insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Kaman’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.