ENTROPIC ALERT: Johnson & Weaver, LLP Investigates the Fairness of Price & Process in Proposed Sale of Entropic Communication...
February 04 2015 - 8:54AM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of Entropic
Communications, Inc. (NASDAQ: ENTR) breached their fiduciary duties
in connection with the planned merger of the Company with
MaxLinear, Inc. Entropic designs, develops, and markets
semiconductor solutions to enable home entertainment.
On February 3, 2015, Entropic and MaxLinear announced that they
had entered into a definitive merger agreement. Under the terms of
the agreement Entropic shareholders will receive $1.20 per share in
cash and 0.2200 shares of MaxLinear common stock for each Entropic
common share held. Based on MaxLinear's closing stock price on
February 2, 2015, the merger consideration is valued at
approximately $3.01 per Entropic share. Entropic shareholders will
be subject to the future price fluctuation of MaxLinear’s stock
price.
The investigation concerns whether Entropic’s board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Entropic’s
shares of common stock. Entropic has approximately $90 million of
cash or $1.00 per share. Moreover, one Wall Street analyst has a
$5.00 price target on Entropic stock which is more than the $3.01
offer price. Earlier this year Entropic stock traded at $4.80 per
share.
If you are a shareholder of Entropic and believe that the
proposed buyout price is too low and you are interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver,
LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
ERShares Entrepreneurs ETF (NASDAQ:ENTR)
Historical Stock Chart
From Jun 2024 to Jul 2024
ERShares Entrepreneurs ETF (NASDAQ:ENTR)
Historical Stock Chart
From Jul 2023 to Jul 2024
