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If you purchased shares of TriQuint Semiconductor (NASDAQ:TQNT) and currently hold any of those NASDAQ:TQNT 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 case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
March 3, 2014 (Shareholders Foundation) - An investor who currently holds shares of TriQuint Semiconductor (NASDAQ:TQNT) filed a lawsuit in effort to halt the proposed takeover of TriQuint Semiconductor by RF Micro Devices, Inc for a value of approximately $9.73 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:TQNT stockholders arising out of the attempt to sell TriQuint Semiconductor too cheaply via an unfair process to RF Micro Devices, Inc
On February 24, 2014, RF Micro Devices, Inc. and TriQuint Semiconductor announced a merger agreement under which the companies will combine in an all-stock transaction. Under the terms of the proposed transaction, which is intended to qualify as a tax-free reorganization, TriQuint shareholders will receive 1.675 shares of the new company and RFMD shareholders will receive 1 share of NewCo for each TriQuint or RFMD share held. The transaction represents an implied price of $9.73 for each TriQuint Semiconductor share.
However, the plaintiff alleges that the offer is too low and undervalues TriQuint Semiconductor. Indeed, at least one analyst has set the high target price for NASDAQ:TQNT shares at $10.00 per share. In addition, the plaintiff also claims that the process is unfair to TriQuint Semiconductor investors.
On March 3, 2014, NASDAQ:TQNT shares closed at $12.33 per share.