Kendall Law Group Investigates Tekelec
November 08 2011 - 12:37PM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Tekelec (NASDAQ: TKLC) for shareholders in connection
with the proposed acquisition by Siris Capital Group, LLC. The
national securities firm’s investigation seeks to determine whether
Tekelec 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 Tekelec
shareholder and would like additional information about your
rights, contact the Kendall Law Group at 877-744-3728 or by email
at investor@kendalllawgroup.com.
On November 7, 2011, the companies announced the definitive
merger agreement under which Tekelec would be acquired by Siris, in
a transaction valued at approximately $780 million. Under the terms
of the agreement, Tekelec stockholders will receive $11.00 in cash
for each share of Tekelec/TKLC common stock held. The offer price
represents an 11 percent to Tekelec's Friday closing price of
$9.90. Tekelec's management team is expected to remain in place at
the new company. In addition, according to Thompson/First Call,
analysts have set a price target as high as $16.00 per share for
Tekelec’s stock. The firm’s investigation seeks to determine
whether Tekelec and its Board undertook a fair process in
negotiating the deal.
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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