NEW YORK, Oct. 12, 2015 /PRNewswire/ -- The fairness of the
proposed acquisition of PMC-Sierra Inc. ("PMCS" or the "Company")
by Skyworks Solutions Inc. is the subject of an investigation by
WeissLaw LLP, a national class action, shareholder rights law firm.
The investigation focuses on possible breaches of fiduciary duty
and other violations of law by the Board of Directors of PMCS for
agreeing to sell the Company to Skyworks. On October 5, 2015, the Company announced it had
reached a definitive agreement for Skyworks to acquire all
outstanding shares of PMCS in a transaction valued at approximately
$2 billion. Under the terms of the
agreement, PMCS shareholders will receive $10.50 in cash for each PMCS share they
own.
WeissLaw is investigating whether PMCS's Board acted to maximize
shareholder value prior to entering into the agreement. Notably, at
least one analyst set a target price of $14.00 per PMCS share, or $3.50 above the offer price. Additionally, PMCS
shares traded at $9.80 as recently as
March 23, 2015. Further the offer
price represents a mere 7% premium over the Company's March 23 trading price.
Given these facts, WeissLaw is investigating whether PMCS's
Board acted in the best interests of PMCS's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with Skyworks. If you own PMCS
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771
or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP