October 09, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of PMC-Sierra Inc (NASDAQ:PMCS), was announced concerning whether the takeover of PMC-Sierra Inc by Skyworks Solutions, Inc for $10.50 per share is unfair to NASDAQ:PMCS stockholders.

The investigation by a law firm concerns whether certain officers and directors of PMC-Sierra Inc breached their fiduciary duties owed to NASDAQ:PMCS investors in connection with the proposed acquisition.

On October 5, 2015, Skyworks Solutions, Inc. (NASDAQ: SWKS) and PMC-Sierra Inc (NASDAQ:PMCS) announced an agreement under which Skyworks will acquire PMC-Sierra Inc (NASDAQ:PMCS) for $10.50 per share in an all-cash transaction valued at approximately $2 billion.

However, given that at least one analyst has set the high target price for NASDAQ:PMCS shares at $11.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:PMCS stockholders. More specifically, the investigation concerns whether the PMC-Sierra 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.

PMC-Sierra Inc reported that its Total Revenue rose from $508.03 million for the 52 weeks period that ended on December 28, 2013 to $525.60 million for the 52 weeks period that ended on December 27, 2014 and that its Net Loss of $32.25 million for the 52 weeks period that ended on December 28, 2013 turned into a Net Income of $0.8 million for the 52 weeks period that ended on December 27, 2014.

Shares of PMC-Sierra Inc (NASDAQ:PMCS) grew from $5.76 per share in November 2013 to as high as $9.75 per share in March 2015.