An investigation on behalf of investors of IXYS Corporation (NASDAQ:IXYS) in connection with the proposed takeover was announced and NASDAQ:IXYS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/05/2017 -- An investigation wes announced for investors, who currently hold shares of IXYS Corporation (NASDAQ:IXYS), concerning whether the takeover of IXYS Corporation by Littelfuse, Inc. for $23.00 per share is unfair.
Investors who purchased shares of IXYS Corporation (NASDAQ:IXYS) and currently hold any of those NASDAQ:IXYS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of IXYS Corporation breached their fiduciary duties owed to NASDAQ:IXYS investors in connection with the proposed acquisition.
On August 28, 2017, Littelfuse, Inc. (NASDAQ:LFUS) and IXYS Corporation (NASDAQ:IXYS) announced that they have entered into an agreement under which Littelfuse will acquire all of the outstanding shares of IXYS in a cash and stock transaction. Under the terms of the agreement, each IXYS stockholder will be entitled to elect to receive, per IXYS share, either $23.00 in cash or 0.1265 of a share of Littelfuse common stock, subject to proration.
However, in conjunction with the definitive agreement, Dr. Nathan Zommer, IXYS founder and currently the company's largest stockholder with approximately 21% ownership, has already entered into a voting and support agreement, the investigation concerns whether the offer is unfair to NASDAQ:IXYS stockholders. More specifically, the investigation concerns whether the IXYS 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.
IXYS Corporation reported that its annual Total Revenue rose from $317.21 million for the 12 months period that ended on March 31, 2016 to $322.12 million for the 12 months period that ended on March 31, 2017 and that its Net Income for those respective time periods rose from $14.74 million to $21.35 million.
On September 1, 2017, NASDAQ:IXYS shares closed at $23.05 per share.
Those who are current investors in IXYS Corporation (NASDAQ:IXYS) 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