An investigation on behalf of investors of Ikanos Communications, Inc. (NASDAQ:IKAN) in connection with the proposed takeover was announced and NASDAQ:IKAN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/17/2015 -- An investigation on behalf of investors, who currently hold shares of Ikanos Communications, Inc. (NASDAQ:IKAN), was announced concerning whether the takeover of Ikanos Communications, Inc. by Qualcomm Incorporated for $2.75 per share is unfair to NASDAQ:IKAN stockholders.
On August 5, 2015, Qualcomm Atheros, Inc., a subsidiary of Qualcomm Incorporated, King Acquisition Co., a subsidiary of Qualcomm Atheros, and Ikanos Communications, Inc. (NASDAQ:IKAN) entered into an Agreement and Plan of Merger.
Investors who purchased shares of Ikanos Communications, Inc. (NASDAQ:IKAN) and currently hold any of those NASDAQ:IKAN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Ikanos Communications, Inc. breached their fiduciary duties owed to NASDAQ:IKAN investors in connection with the proposed acquisition.
Under the terms of the proposed transaction, Qualcomm Atheros, through King Acquisition Co., will commence a tender offer to acquire all of the issued and outstanding shares of Ikanos Communications, Inc. (NASDAQ:IKAN) common stock, $0.001 par value, for $2.75 per share, without interest, in cash, subject to any applicable withholding taxes, and assume all outstanding indebtedness at the closing of the transaction.
However, given that at least one analyst has set the high target price for NASDAQ:IKAN shares at $5.00 per share, investigation concerns whether the offer is unfair to NASDAQ:IKAN stockholders. More specifically, the investigation concerns whether the Ikanos Communications 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 Ikanos Communications, Inc. (NASDAQ:IKAN) closed on August 13, 2015, at $2.73 per share.
Those who are current investors in Ikanos Communications, Inc. (NASDAQ:IKAN) 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