Kendall Law Group Investigates McAfee, Inc. Acquisition for Shareholders
August 19 2010 - 12:10PM
Business Wire
Kendall Law Group, led by a former federal judge Joe Kendall
with attorneys that include a former U.S. Attorney, is
investigating McAfee, Inc. (NYSE: MFE) for shareholders in
connection with the proposed acquisition by Intel Corporation. The
national securities firm’s investigation seeks to determine whether
McAfee and its Board breached their fiduciary duties by entering
into the agreement without properly shopping for a deal that would
provide better value for shareholders. If you are a McAfee
shareholder and would like additional information about your
rights, contact the Kendall Law Group at 877-744-3728 or by email
at skendall@kendalllawgroup.com.
On August 19, 2010 Intel entered into a definitive agreement to
acquire McAfee in a cash transaction valued at approximately $7.68
billion. Under the terms of the agreement, McAfee stockholders will
receive $48.00 per share for each share of McAfee common stock
held. Earlier this year, McAfee stock was trading for at or around
$40 per share before tumbling on April 29 in response to the news
that McAfee announced lower than expected earnings per share and
revenue projections for the second quarter of 2010. Last year,
McAfee “enjoyed double-digit, year-over-year growth and nearly 80
percent gross margins.” In addition, according to Thompson/First
Call, at least one analyst has set a price target of $50.00 per
share of McAfee stock.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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