Robbins Arroyo LLP: Acquisition of Altera Corporation (ALTR) by Intel Corporation (INTC) May Not Be in Shareholders' Best Interests
SAN DIEGO and SAN JOSE, Calif., June 1, 2015 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Altera Corporation (NASDAQ: ALTR) by Intel Corporation. (NASDAQ: INTC). On June 1, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Intel will acquire Altera. Under the terms of the agreement, Altera shareholders will receive $54.00 in cash for each share of Altera common stock.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/altera-corporation
Is the Proposed Acquisition Best for Altera and Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board of directors at Altera is undertaking a fair process to obtain maximum value and adequately compensate its shareholders. Notably, the $54.00 merger consideration represents a premium of only 10.5% based on Altera's closing price on May 29, 2015. This premium is significantly below the average one-day premium of nearly 38% for comparable transactions within the past five years.
Altera shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information. Altera shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP
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