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Investigation of Acquisition of ICx Technologies by Tripp Levy PLLC

^{Published on 2010-08-16 06:35:40 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC announces an investigation into the proposed acquisition of ICx Technologies, Inc. (NASDAQ: ICXT). ICx Technologies has entered into a definitive merger agreement with FLIR Systems, Inc. (Nasdaq:[ FLIR ] - [ News ]) pursuant to which ICx would be acquired through a cash tender offer for a price of $7.55 per share in cash. In addition, certain affiliates of Wexford Capital LP have agreed to tender approximately 62% of ICxa™s outstanding shares in the tender offer.

The investigation concerns, among other things, whether the consideration to be paid to ICx Technologies shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of ICx Technologies. Indeed, analysts have projected that the companya™s inherent value is approx. $10 per share. The investigation further concerns whether the directors of ICx Technologies may have breached their fiduciary duties by not acting in ICx Technologies shareholders' best interests in connection with the sale process of ICx Technologies.

If you own ICx Technologies 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

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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