An investigation on behalf of investors, who currently hold shares of Microsemi Corporation (NASDAQ:MSCC), was announced concerning whether the takeover of Microsemi Corporation by Microchip Technology Incorporated for $68.78 per share is unfair to NASDAQ:MSCC stockholders.

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

Aliso Viejo, CA based Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance.

On March 1, 2018, Microchip Technology Incorporated (NASDAQ: MCHP) and Microsemi Corporation (NASDAQ:MSCC) announced that the two companies have signed an agreement pursuant to which Microchip Technology Incorporated will acquire Microsemi for $68.78 per share in cash.

However, given that at least one analyst has set the high target price for NASDAQ:MSCC shares at $70.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:MSCC stockholders. More specifically, the investigation concerns whether the Microsemi 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.

Microsemi Corporation reported that its Total Revenue rose from over $1.65 billion for the 52 weeks period that ended on October 2, 2016 to over $1.81 billion for the 52 weeks period that ended on October 1, 2017 and that its Net Loss of $32.60 million for the 52 weeks period that ended on October 2, 2016 turned to a Net Income of $176.30 million for the 52 weeks period that ended on October 1, 2017.

On March 5, 2018, NASDAQ:MSCC shares closed at $67.44 per share.