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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mindspeed Technologies, Inc. (MM) | NASDAQ:MSPD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.05 | 0 | 01:00:00 |
SAN DIEGO and NEWPORT BEACH, Calif., Nov. 7, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Mindspeed Technologies, Inc. (NASDAQ: MSPD) by M/A-COM Technology Solutions Holdings, Inc. (NASDAQ: MTSI). On November 5, 2013, Mindspeed announced the signing of a definitive merger agreement pursuant to which M/A-COM will acquire Mindspeed for $5.05 for each share in a cash tender offer.
(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)
Is the Merger Best for Mindspeed and Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board of directors at Mindspeed is undertaking a fair process to obtain maximum value and adequately compensate Mindspeed shareholders in the merger. Notably, Mindspeed traded above the offer price as recently as February 22, 2013, and traded as high as $5.27 on February 19, 2013, closing at $5.23 that same day. Further, Mindspeed is currently experiencing growth in its business prospects, as indicated in its November 5, 2013 press release announcing the company's financial results for its fourth quarter 2013. In particular, Mindspeed reported increases in:
Given these facts, Robbins Arroyo LLP is examining the Mindspeed board of directors' decision to sell the company to M/A-COM now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects, and whether they are seeking to benefit themselves.
Mindspeed shareholders have the option to file a class action lawsuit to secure the best possible price for shareholders and the disclosure of material information so shareholders can decide whether to tender their shares in an informed manner. Mindspeed 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.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
SOURCE Robbins Arroyo LLP
Copyright 2013 PR Newswire
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