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If you purchased shares of Power One Inc (NASDAQ:PWER) prior to April 22, 2013, and currently hold any of those NASDAQ:PWER 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
April 24, 2013 (Shareholders Foundation) - An investigation on behalf of investors in Power One Inc (NASDAQ:PWER) shares was announced concerning whether the offer by ABB to acquire Power One Inc for $6.35 per NASDAQ:PWER share and the takeover process are unfair to investors in NASDAQ:PWER shares.
The investigation by a law firm concerns whether certain officers and directors of Power One Inc breached their fiduciary duties owed to NASDAQ:PWER investors in connection with the proposed acquisition.
On April 22, 2013, ABB (NYSE:ABB) and Power-One, Inc. (Nasdaq:PWER) announced that their boards of directors have agreed to a transaction in which ABB will acquire Power-One for $6.35 per share in cash or $1,028 million equity value.
However, given that NASDAQ:PWER shares traded in 2010 as high as $12.43 per share, thus almost twice the current offer, the investigation a law firm concerns whether the offer is too low for NASDAQ:PWER stockholders. More specifically, the investigation focuses on whether the Power One 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.
On April 24, 2013, NASDAQ:PWER shares closed at $6.34 per share.
