Investigation Overview
April 10, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Informatica Corporation (NASDAQ:INFA), was announced concerning whether the takeover of Informatica Corporation by a company controlled by the Permira funds and Canada Pension Plan Investment Board for $48.75 per share is unfair to NASDAQ:INFA stockholders.
The investigation by a law firm concerns whether certain officers and directors of Informatica Corporation breached their fiduciary duties owed to NASDAQ:INFA investors in connection with the proposed acquisition.
On April 7, 2015, Informatica Corporation (NASDAQ:INFA) announced that it has entered into an agreement to be acquired by a company controlled by the Permira funds and Canada Pension Plan Investment Board (CPPIB) for approximately $5.3 billion. Under the terms of the agreement, Informatica Corporation (NASDAQ:INFA) shareholders will receive $48.75 in cash for each share of Informatica Corporation (NASDAQ:INFA) common stock.
However, the investigation concerns whether the offer is unfair to NASDAQ:INFA stockholders. More specifically, the investigation concerns whether the Informatica 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.
Informatica Corporation reported that its annual Total Revenue rose from $948.17 million in 2013 to over $1.04 billion in 2014 and that its Net Income increased from $86.39 million in 213 to $114.09 million in 2014. Shares of Informatica Corporation (NASDAQ:INFA) grew from $30.65 per share in July 2014 to as high as $46.00 per share on April 6, 2015.