An investigation on behalf of investors of Orbotech Ltd (NASDAQ:ORBK) in connection with the proposed takeover was announced and NASDAQ:ORBK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/27/2018 -- The takeover of Orbotech Ltd is under investigation over possible wrongdoing.
Investors who purchased shares of Orbotech Ltd (NASDAQ:ORBK) and currently hold any of those NASDAQ:ORBK 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 Orbotech Ltd breached their fiduciary duties owed to NASDAQ:ORBK investors in connection with the proposed acquisition.
On March 19, 2018, March 19, 2018, KLA-Tencor Corporation (NASDAQ: KLAC) and Orbotech Ltd. announced they had entered into an agreement pursuant to which KLA-Tencor will acquire Orbotech Ltd. for $38.86 in cash and 0.25 of a share of KLA-Tencor common stock in exchange for each ordinary share of Orbotech, implying a total consideration of approximately $69.02 per share.
However, the investigation concerns whether the offer is unfair to NASDAQ:ORBK stockholders. More specifically, the investigation concerns whether the Orbotech 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.
Shares of Orbotech Ltd (NASDAQ:ORBK) closed on March 26, 2018, at $63.55 per share.
Those who purchased shares of Orbotech Ltd (NASDAQ:ORBK) 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