(IPHI): Johnson Fistel Investigates Proposed Sale of Inphi; Are Shareholders Getting a Fair Deal?
(IPHI): Johnson Fistel Investigates Proposed Sale of Inphi; Are Shareholders Getting a Fair Deal? |
[29-October-2020] |
SAN DIEGO, Oct. 29, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Inphi Corporation (NASDAQ: IPHI) breached their fiduciary duties in connection with the proposed sale of the Company to Marvell Technology Group Ltd. (NASDAQ: MRVL) ("Marvell"). On October 29, 2020, Inphi announced that it had entered into a definitive merger agreement with Marvell. Under the deal, Marvell will give Inphi shareholders $66 in cash and 2.32 shares of stock in the combined company for each share of Inphi. Upon closing of the transaction, Inphi stockholders will own approximately 17% of the combined company. The investigation concerns whether the Inphi board failed to satisfy its 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 Inphi shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth. One Wall Street analyst had a $164.00 price target on the stock. If you are a shareholder of Inphi and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number. Additionally, you can [Click here to join this action]. There is no cost or obligation to you. About Johnson Fistel, LLP: Contact:
View original content:http://www.prnewswire.com/news-releases/iphi-johnson-fistel-investigates-proposed-sale-of-inphi-are-shareholders-getting-a-fair-deal-301162925.html SOURCE Johnson Fistel, LLP | ||
Company Codes: NASDAQ-NMS:IPHI, NASDAQ-NMS:MRVL |
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