An investigation on behalf of investors of Ultratech, Inc. (NASDAQ:UTEK) in connection with the proposed takeover was announced and NASDAQ:UTEK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/09/2017 -- The takeover of Ultratech is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold NASDAQ:UTEK shares, concerning whether the buyout of Ultratech, Inc. by Veeco Instruments Inc for a value of approximately $28.64 per share is unfair.
Investors who purchased shares of Ultratech, Inc. (NASDAQ:UTEK) and currently hold any of those NASDAQ:UTEK shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Ultratech, Inc. breached their fiduciary duties owed to NASDAQ:UTEK investors in connection with the proposed acquisition.
On February 2, 2017, Veeco Instruments Inc. and Ultratech, Inc. announced that they have signed an agreement for Veeco Instruments Inc. to acquire Ultratech, Inc. (NASDAQ:UTEK). Under the terms of the transaction Ultratech, Inc. (NASDAQ:UTEK) shareholders will receive $21.75 per share in cash and 0.2675 of a share of Veeco common stock for each Ultratech common share outstanding. Based on Veeco's closing stock price on February 1, 2017, the transaction consideration is valued at approximately $28.64 per Ultratech share.
However, given that at least one analyst has set the high target price for NASDAQ:UTEK shares at $30.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:UTEK stockholders. More specifically, the investigation concerns whether the Ultratech 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.
On February 8, 2017, NASDAQ:UTEK shares closed at $28.13 per share.
Those who are current investors in Ultratech, Inc. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego