A lawsuit was filed for investors in Ingram Micro Inc. in connection with the proposed takeover was announced and NYSE:IM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/30/2016 -- A shareholder of Ingram Micro Inc. filed a lawsuit in effort to halt the proposed takeover of Ingram Micro Inc. by Tianjin Tianhai Investment Company for $38.90 per share.
Investors who purchased shares of Ingram Micro Inc. (NYSE:IM) and currently hold any of those NYSE:IM shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: IM stockholders by agreeing to sell Ingram Micro Inc too cheaply via an unfair process to Tianjin Tianhai Investment Company, Ltd
On February 17, 2016, Ingram Micro Inc. (NYSE: IM) and Tianjin Tianhai Investment Company, Ltd. announced that they have entered into a merger agreement under which Tianjin Tianhai will acquire Ingram Micro for $38.90 per share in an all-cash transaction with an equity value of approximately $6.0 billion.
However, the plaintiff claims that the proposed consideration NYSE:IM shareholders will receive is grossly inadequate and undervalues Ingram Micro Inc. Indeed, Ingram Micro Inc. reported that its Total Revenue rose from over $36.32 billion for the 52 weeks period that ended on December 31, 2011 to over $46.48 billion for the 53 weeks period that ended on January 3, 2015. In addition, the plaintiff alleges that the process is also unfair to NYSE:IM stockholders.
On March 28, 2016, NYSE:IM shares closed at $36.26 per share.
Those who are current investors in Ingram Micro Inc. (NYSE:IM) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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