June 10, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Hittite Microwave Corp (NASDAQ:HITT) shares, was announced concerning whether the takeover of Hittite Microwave Corp by Analog Devices, Inc at $78.00 per share is unfair to NASDAQ:HITT stockholders.

The investigation by a law firm concerns whether certain officers and directors of Hittite Microwave breached their fiduciary duties owed to NASDAQ:HITT investors in connection with the proposed acquisition.

On June 9, 2014, Analog Devices, Inc. (NASDAQ: ADI) and Hittite Microwave Corporation (NASDAQ:HITT) announced that the two companies have entered into an agreement whereby Analog Devices, Inc will acquire Hittite Microwave Corporation for $78 per share in cash.


However, the investigation concerns whether the offer is unfair to NASDAQ:HITT stockholders. More specifically, the investigation concerns whether the Hittite Microwave Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Hittite Microwave Corp reported that its annual Total Revenue rose from $264.39 million in 2012 to $273.81 million in 2013 and that its respective Net Income increased from $68.57 million to $69.99 million.

Shares of Hittite Microwave Corp (NASDAQ:HITT) grew from $25.17 per share in February 2009 to as high as $66.05 per share in October 2013.

On June 9, 2014, NASDAQ:HITT shares closed at $77.90 per share.