SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of TriQuint Semiconductor, Inc. (NASDAQ:TQNT) breached their fiduciary duties in connection with the proposed merger with RF Micro Devices, Inc. (NASDAQ:RFMD).
On February 24, 2014, RF Micro Devices Inc. agreed to buy TriQuint in a deal structured as a merger of equals. The transaction represents an implied price of $9.73 for each TriQuint share, a 5.4 percent premium over the closing price on Feb. 21, 2014. Former shareholders of RFMD and TriQuint will each own about 50 percent of the post-merger company, which will have a new name.
The investigation concerns whether TriQuint’s board members failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.
Jim Baker, lead analyst for Johnson & Weaver, stated that, “RF Micro’s offer appears to be inadequate and not in the best interest of TriQuint’s shareholders.” In particular, Baker cited, “TriQuint’s revenues and profitability has been growing steadily, in fact 2015 analysts have forecasted a 10% revenue increase.”
If you are a TriQuint shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (email@example.com) at 619-230-0063. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.