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Ingram Micro Inc. (NYSE:IM) Investor Lawsuit Over Alleged Wrongdoing In Acquisition Filed

  • If you purchased shares of Ingram Micro Inc. (NYSE:IM) and currently hold any of those NYSE:IM shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Ingram Micro Inc.
Security
NYSE: IM

Case Name
Ingram Micro Deal Case 03/10/2016
Type of Lawsuit
Mergers and Acquisition
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Summary

March 11, 2016 (Shareholders Foundation) - An investor who currently holds shares of Ingram Micro Inc. (NYSE:IM), filed a lawsuit in effort to halt the proposed takeover of Ingram Micro Inc. by Tianjin Tianhai Investment Company for $38.90 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: IM stockholders by agreeing to sell Ingram Micro Inc too cheaply via an unfair process to Tianjin Tianhai Investment Company, Ltd

On February 17, 2016, Ingram Micro Inc. (NYSE: IM) and Tianjin Tianhai Investment Company, Ltd. announced that they have entered into a merger agreement under which Tianjin Tianhai will acquire Ingram Micro for $38.90 per share in an all-cash transaction with an equity value of approximately $6.0 billion.

However, the plaintiff claims that the proposed consideration NYSE:IM shareholders will receive is grossly inadequate and undervalues Ingram Micro Inc. Indeed, Ingram Micro Inc. reported that its Total Revenue rose from over $36.32 billion for the 52 weeks period that ended on December 31, 2011 to over $46.48 billion for the 53 weeks period that ended on January 3, 2015. In addition, the plaintiff alleges that the process is also unfair to NYSE:IM stockholders.