December 12, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Intralinks Holdings Inc (NYSE:IL), was announced concerning whether the takeover of Intralinks Holdings Inc by Synchronoss Technologies for $13.00 per share is unfair NYSE:IL stockholders.

The investigation by a law firm concerns whether certain officers and directors of Intralinks Holdings Inc breached their fiduciary duties owed to NYSE:IL investors in connection with the proposed acquisition.

On December 6, 2016, Synchronoss Technologies, Inc. (NASDAQ:SNCR) and Intralinks Holdings Inc (NYSE:IL IL) announced that they have entered into an agreement for Synchronoss to acquire Intralinks Holdings Inc (NYSE:IL) for approximately $821 million in equity value. Under the terms of the agreement, Synchronoss will commence a cash tender offer to acquire all of the outstanding common stock of Intralinks Holdings Inc (NYSE:IL) for $13.00 per share.

However, given that at least one analyst has set the high target price for NYSE:IL shares at $15.00 per share, the investigation concerns whether the offer is unfair to NYSE:IL stockholders. More specifically, the investigation concerns whether the Intralinks Holdings 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.

Shares of Intralinks Holdings Inc (NYSE:IL) closed on December 12, 2016 at $13.04 per share.