Shareholders Foundation, Inc.

Alert: Emulex Corporation (NYSE:ELX) Takeover Under Investor Investigation

An investigation on behalf of investors of Emulex Corporation (NYSE:ELX) in connection with the proposed takeover was announced and NYSE:ELX stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 03/02/2015 -- An investigation on behalf of investors, who currently hold shares of Emulex Corporation (NYSE:ELX), was announced concerning whether the takeover of Emulex Corporation by Avago Technologies Limited is unfair to NYSE:ELX stockholders.

Investors who purchased shares of Emulex Corporation (NYSE:ELX) and currently hold any of those NYSE:ELX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Emulex Corporation breached their fiduciary duties owed to NYSE:ELX investors in connection with the proposed acquisition.

On February 25, 2015, Avago Technologies Limited and Emulex Corporation (NYSE:ELX) announced that they have entered into an agreement under which Avago Technologies will Emulex Corporation (NYSE:ELX), in an all-cash transaction valued at approximately $606 million, or $609 million net of cash and debt acquired. Under the terms of the agreement a subsidiary of Avago Technologis will commence a tender offer for all of the outstanding shares of Emulex Corporation (NYSE:ELX) common stock for $8 per share in cash.

However,given that certain senior members of the Emulex management team and all of the directors of Emulex, collectively owning approximately 2.5 percent of Emulex's outstanding shares have already executed Tender and Support Agreements in support of the transaction, the investigation concerns whether the offer is unfair to NYSE:ELX stockholders. More specifically, the investigation concerns whether the Emulex Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of Emulex Corporation (NYSE:ELX) traded in July 2013 as high as $8.28 per share and in early 2012 as high as $11.01 per share.

On February 26, 2015, Emulex Corporation shares closed at $7.93 per share.

Those who are current investors in Emulex Corporation (NYSE:ELX) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com