An investigation on behalf of investors of IGATE Corp (NASDAQ:IGTE) in connection with the proposed takeover was announced and NASDAQ:IGTE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/04/2015 -- An investigation on behalf of investors, who currently hold shares of IGATE Corp (NASDAQ:IGTE), was announced concerning whether the takeover of IGATE Corp by Capgemini for $48 per share is unfair to NASDAQ:IGTE stockholders.
Investors who purchased shares of IGATE Corp (NASDAQ:IGTE) and currently hold any of those NASDAQ:IGTE 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 IGATE Corp breached their fiduciary duties owed to NASDAQ:IGTE investors in connection with the proposed acquisition.
On April 27, 2015, Capgemini and IGATE Corp announced that they have entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share.
However, given that at least one analyst has set the high target price for NASDAQ:IGTE shares at $55.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:IGTE stockholders. More specifically, the investigation concerns whether the IGATE 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.
IGATE Corp reported that its annual Total Revenue rose from $779.65 million in 2011 to over $1.26 billion in 2014 and that its respective Net Income increased from $51.47 million in 2011 to $110.01 million in 2014. Shares of IGATE Corp (NASDAQ:IGTE) grew from $9.67 per share in August 2011 to as high as $45.90 per share on April 24, 2015.
On April 30, 2015, NASDAQ:IGTE shares closed at $47.56 per share.
Those who are current investors in IGATE Corp (NASDAQ:IGTE) 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