May 02, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in NASDAQ:SMSC shares was announced concerning whether the offer by Microchip Technology Incorporated to acquire Standard Microsystems Corporation at $37.00 per share and the takeover process are unfair to investors in Standard Microsystems.

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

On Wednesday, May 2, 2012, Microchip Technology Incorporated (NASDAQ: MCHP) and Standard Microsystems Corporation (NASDAQ: SMSC) announced that Microchip Technology Incorporated has signed an agreement to acquire Standard Microsystems Corporation for $37.00 per share in cash, which represents a total equity value of about $939 million, and a total enterprise value of about $766 million, after excluding Standard Microsystems cash and investments on its balance sheet of approximately $173 million.

Following the takeover news NASDAW:SMSC shares jumped from $26.40 per share on Tuesday to $36.31 on Wednesday, May 2, 2012.

However, the Company has seen substantial recent growth. For instance, its share price has skyrocketed from $18.43 on October 3, 2011 to $27.05 on April 27, 2012.

Therefore the investigation for NASDAQ:SMSC investors concerns whether the proposed transaction is unfair to Standard Microsystems stockholders. Specifically, the investigation focuses on whether the Standard Microsystems 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.