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If you purchased shares of Newport Corp (NASDAQ:NEWP) and currently hold any of those NASDAQ:NEWP shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
February 29, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Newport Corp (NASDAQ:NEWP), was announced concerning whether the takeover of Newport Corp. by MKS Instruments, Inc for $23.00 per share is unfair to NASDAQ:NEWP stockholders.
The investigation by a law firm concerns whether certain officers and directors of Newport Corp breached their fiduciary duties owed to NASDAQ:NEWP investors in connection with the proposed acquisition.
On February 23, 2016, MKS Instruments, Inc. (NASDAQ: MKSI) and Newport Corp (NASDAQ:NEWP) announced that they have entered into an agreement for MKS Instruments to acquire Newport Corp (NASDAQ:NEWP) for $23.00 per share.
However, the investigation concerns whether the offer is unfair to NASDAQ:NEWP stockholders. More specifically, the investigation concerns whether the Newport 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.
Newport Corp reported that its Total Revenue rose from $560.05 million for the 12 months period that ended on December 28, 2013 to $605.15 million for the 12 months period that ended on January 3, 2015 and that its respective Net Income grew fropm $15.60 million to $35.06 million.
