An investigation on behalf of investors of Nanometrics Incorporated (NASDAQ: NANO) in connection with the proposed takeover was announced and NASDAQ: NANO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/29/2019 -- An investigation was announced concerning whether the takeover of Nanometrics Incorporated is unfair to NASDAQ: NANO stockholders.
Investors who purchased shares of Nanometrics Incorporated (NASDAQ: NANO) and currently hold any of those NASDAQ: NANO shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Nanometrics Incorporated breached their fiduciary duties owed to NASDAQ: NANO investors in connection with the proposed acquisition.
Milpitas, CA based Nanometrics Incorporated provides process control metrology and inspection systems for use primarily in the fabrication of semiconductors and other solid-state devices, and industrial and scientific applications worldwide. On Jun. 24, 2019, Nanometrics Incorporated (NASDAQ: NANO) and Rudolph Technologies, Inc. (NYSE: RTEC) announced that they have agreed to combine in an all-stock merger of equals transaction. Under the terms of the agreement, Rudolph stockholders will receive 0.8042 shares of Nanometrics common stock for each Rudolph share. Based on a closing price of $25.03 per NYSE: RTEC shares investors in NASDAQ:NANO will receive a value of approximately $20.13 per share.
However, given that at least one analyst has set the high target price for NASDAQ: NANO shares at $35.20 per share and NASDAQ: NANO shares reached on July 25, 2019 as high as $36.38 per share in the open market, the investigation concerns whether the offer is unfair to NASDAQ: NANO stockholders. More specifically, the investigation concerns whether the Nanometrics 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.
Nanometrics Incorporated reported that its annual Total Revenue rose from $258.62 million in 2017 to $324.52 million in 2018 and that its Net Income increased from $30.2 million in 2017 to $57.64 million in 2018.
On July 26, 2019, NASDAQ: NANO closed at $35.20 per share.
Those who are current investors in Nanometrics Incorporated (NASDAQ: NANO) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.