NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Atmel Corporation (“Atmel” or the “Company”) (NasdaqGS:ATML) for potential breaches of fiduciary duties in connection with the sale of the Company to Dialog Semiconductor for approximately $4.6 billion in a cash and stock transaction.
The Company’s stockholders will only receive $4.65 in cash and 0.112 of a Dialog American Depositary share, or approximately $9.22, for each share of Company stock they own. Howver, the offer is inadequate since Atmel stock traded at $10.44 per share as recently as June 22, 2015 and an analyst has set a price target for Atmel stock at $12.00 per share.
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The investigation focuses on whether Atmel’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Atmel’s shareholders.
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If you own common stock in Atmel and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ATML or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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