SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Peregrine Semiconductor Corporation (NASDAQ: PSMI) breached their fiduciary duties in connection with the proposed $471 million sale of the Company to Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd.
If you are a Peregrine shareholder and would like additional information concerning your legal rights, please contact Johnson & Weaver’s lead analyst Jim Baker at firstname.lastname@example.org or 619-814-4471.
Peregrine provides various radio frequency integrated circuits worldwide.
On August 22, 2014, Peregrine and Murata entered into an agreement whereby Murata will acquire Peregrine in a $471 million transaction. Under the terms of the agreement, Peregrine shareholders will receive $12.50 per share in cash. The acquisition is expected to be completed by year end, although shareholders will likely be asked to vote on the transaction well before then. Peregrine’s initial public offering (“IPO”) occurred in August 2012, when shares were offered to the public at $14.00.
Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed $12.50 per share deal price represents adequate consideration, especially given the Company’s recent $14.00 IPO price and the outlook and promise of future growth.
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