Robbins Arroyo LLP: Acquisition of Lionbridge Technologies, Inc. (LIOX) by an affiliate of H.I.G. Capital, LLC (Private) May ...
December 12 2016 - 3:31PM
Business Wire
Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of Lionbridge Technologies,
Inc. (NASDAQGS: LIOX) by an affiliate of H.I.G. Capital, LLC
(Private). On December 12, 2016, the two companies announced the
signing of a definitive merger agreement pursuant to which H.I.G.
Capital will acquire Lionbridge. Under the terms of the agreement,
Lionbridge shareholders will receive $5.75 for each share of
Lionbridge common stock.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/lionbridge-technologies-inc
Is the Proposed Acquisition Best for Lionbridge and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at Lionbridge is undertaking a fair process to obtain
maximum value and adequately compensate its shareholders.
As an initial matter, the $5.75 merger consideration represents
a premium of only 3.20% based on Lionbridge's closing price on
December 9, 2016. This premium is significantly below the average
one day premium of nearly 38.96% for comparable transactions within
the past three years. Further, the $5.75 merger consideration is
significantly below the target price of $7.00 set by an analyst at
Barrington Research on May 9, 2016, the target price of $6.50 set
by an analyst at Craig-Hallum Capital Group LLC on November 8,
2016, and the target price of $6.35 set by an analyst at Nobel
Financial Group on May 6, 2016. In the last three years, Lionbridge
traded as high as $7.50 on February 26, 2014, and most recently
traded above the merger consideration – at $5.89 – on November 9,
2015.
Lionbridge shareholders have the option to file a class action
lawsuit to ensure the board of directors obtains the best possible
price for shareholders and the disclosure of material information.
Lionbridge shareholders interested in information about their
rights and potential remedies can contact attorney Darnell R.
Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20161212006120/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
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