February 24, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of TriQuint Semiconductor (NASDAQ:TQNT) shares, was announced concerning whether the takeover of TriQuint Semiconductor by RF Micro Devices, Inc for a value of approximately $9.73 per share is unfair to NASDAQ:TQNT stockholders.

The investigation by a law firm concerns whether certain officers and directors of TriQuint Semiconductor breached their fiduciary duties owed to:TQNT investors in connection with the proposed acquisition.

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, given that at least one analyst has set the high target price for NASDAQ:TQNT shares at $10.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:TQNT stockholders. More specifically, the investigation concerns whether the TriQuint Semiconductor 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 February 24, 2014, NASDAQ:TQNT shares closed at $11.64 per share.