Kendall Law Group Investigates Avocent Merger on Behalf of Shareholders
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DALLAS--(BUSINESS WIRE)-- Kendall Law Group, led by a former federal judge and former US Attorney, announces an investigation on behalf of Avocent Corporation shareholders (NASDAQ: AVCT) in connection with an agreement to sell the company to Emerson Electric.
The firm is investigating whether the Avocent board of directors breached their fiduciary duties related to the approval of the acquisition, which is expected to close around January 1, 2010. According to the agreement, Emerson will pay $25 per Avocent share, a 22% premium. At least one analyst has set a $27.00 per share price target for Avocent stock. The Board agreed to a no-solicitation provision and a $35 million termination fee and to reimburse Emerson for transaction expenses up to $7.5 million. These deal protection devices will all but ensure that no superior offer will ever be forthcoming.
Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. If you have information concerning this merger or want to learn more about your rights as a shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Source: Kendall Law Group
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