Newman Ferrara LLP Announces Investigation of TriQuint Semiconductor, Inc.
NEW YORK--(BUSINESS WIRE)--Newman Ferrara LLP has begun an investigation into potential claims against the board of directors of TriQuint Semiconductor, Inc. (“TriQuint”) (Nasdaq:TQNT) concerning its proposed merger agreement with RF Micro Devices, Inc. (“RF Micro”) (Nasdaq:RFMD).
TriQuint announced that it has entered into an agreement and plan of merger with RF Micro in an all-stock transaction to create a new combined company in radio frequency solutions. The proposed merger would provide TriQuint stockholders with implied value of $9.73 per share of TriQuint stock owned, a premium of only 5.4% premium to TriQuint’s closing stock price of $9.23 per share on February 21, 2014.
Pursuant to the deal, TriQuint’s President and Chief Executive Officer Ralph Quinsey will serve as chairman of the combined company’s board of directors. The proposed merger is expected to close in the second half of 2014 and to result in TriQuint stockholders owning approximately 50% of the combined company.
Newman Ferrara’s investigation concerns whether TriQuint’s Board of Directors has breached its fiduciary duties to act in the best interests of TriQuint’s stockholders. The investigation focuses on the potential unfairness of the consideration being provided to TriQuint’s stockholders and the process by which TriQuint’s Board of Directors considered and approved the proposed deal.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at email@example.com to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.