An investigation on behalf of investors of Atmel Corporation (NASDAQ:ATML) in connection with the proposed takeover was announced and NASDAQ:ATML stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/14/2015 -- The takeover of San Jose, CA based Atmel Corporation is under investigation concerning potential wrongdoing. The investigation on behalf of investors, who currently hold shares of Atmel Corporation (NASDAQ:ATML), was announced concerning whether the takeover of Atmel Corporation by Dialog Semiconductor for a value of approximately $10.42 per share is unfair.
Investors who purchased shares of Atmel Corporation (NASDAQ:ATML) and currently hold any of those NASDAQ:ATML shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Atmel Corporation breached their fiduciary duties owed to NASDAQ:ATML investors in connection with the proposed acquisition.
On 20 September 2015, Dialog Semiconductor (XTRA: DLG) and Atmel Corporation (NASDAQ:ATML) announced that Dialog Semiconductor has agreed to acquire Atmel Corporation (NASDAQ:ATML) in a cash and stock transaction for total consideration of approximately $4.6 billion. Under the terms of the agreement, Atmel Corporation (NASDAQ:ATML) shareholders will receive $4.65 in cash and 0.112 of a Dialog Semiconductor American Depository Share ("ADS") for each Atmel Corporation (NASDAQ:ATML) common share held at close of the transaction resulting in the economic equivalent of $10.42 per Atmel Corporation (NASDAQ:ATML) share based on Dialog Semiconductor's closing stock price as of 18 September 2015.
However, given that at least one analyst has set the high target price for NASDAQ:ATML shares at $10.50 per share, the investigation concerns whether the offer is unfair to NASDAQ:ATML stockholders. More specifically, the investigation concerns whether the Atmel 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.
Atmel Corporation reported that its annual Total Revenue rose from over $1.38 billion in 2013 to over $1.41 billion in 2014 and that its Net Loss of $22.05 million in 2013 turned into a Net Income of $32.20 million in 2014.
On October 12, 2015, NASDAQ:ATML shares closed at $8.59 per share.
Those who are current investors in Atmel Corporation (NASDAQ:ATML) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego