An investigation on behalf of investors of Gigamon Inc (NYSE:GIMO) in connection with the proposed takeover was announced and NYSE:GIMO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/01/2017 -- An investigation was announced for investors in NYSE:GIMO shares concerning whether the takeover of Gigamon Inc. by Elliott is unfair.
Investors who purchased shares of Gigamon Inc (NYSE:GIMO) should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Gigamon Inc breached their fiduciary duties owed to NYSE:GIMO investors in connection with the proposed acquisition.
On Oct. 26, 2017, Gigamon Inc (NYSE:GIMO) announced that they have entered into an agreement under which Elliott will acquire Gigamon for $38.50 per share in cash, for a total value of approximately $1.6 billion.
However, given that at least one analyst has set the high price target for NYSE:GIMO shares at $50.00 per share and given that as recently as September 12, 2017 NYSE:GIMO shares traded in the open market as high as $44.70 per share, the investigation concerns whether the offer is unfair to NYSE:GIMO stockholders.
In addition, given that Elliott Management and its affiliates currently holding a 7.0% equity voting stake in the Company have already agreed to vote their shares in favor of the transaction, the investigation concerns whether the Gigamon 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.
Those who are current investors in Gigamon Inc (NYSE:GIMO) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego