WeissLaw LLP: PMC-Sierra Inc. Acquisition By Skyworks Solutions Inc. May Not Be In The Best Interest Of PMCS Shareholders

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 [phone] or by email at [e-mail].

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 [e-mail] 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.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/weisslaw-llp-pmc-sierra-inc-acquisition-by-skyworks-solutions-inc-may-not-be-in-the-best-interest-of-pmcs-shareholders-300158012.html

SOURCE WeissLaw LLP

Copyright 2015 PR Newswire