An investigation on behalf of investors of Inteliquent Inc (NASDAQ:IQNT) in connection with the proposed takeover was announced and NASDAQ:IQNT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/09/2016 -- An investigation on behalf of investors, who currently hold shares of Inteliquent Inc (NASDAQ:IQNT), was announced concerning whether the takeover of Chicago, IL based Inteliquent Inc for $23.00 per share.
Investors who purchased shares of Inteliquent Inc (NASDAQ:IQNT) and currently hold any of those NASDAQ:IQNT shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Inteliquent Inc breached their fiduciary duties owed to NASDAQ:IQNT investors in connection with the proposed acquisition.
On November 02, 2016, Inteliquent Inc announced that it has entered into an agreement to be acquired by an affiliate of GTCR LLC, a leading private equity firm, and merged with a subsidiary of Onvoy, LLC a fast-growing leader in Communications Enablement services. Under the terms of the agreement, Inteliquent stockholders of record will receive $23.00 in cash per share of common stock.
However, given that at least one analyst has set the high target price for NASDAQ:IQNT shares at $24.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:IQNT stockholders. More specifically, the investigation concerns whether the Inteliquent 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 Inteliquent Inc (NASDAQ:IQNT) closed on November 8, 2016 at $2.85 per share.
Those who are current investors in Inteliquent Inc shares have certain options and should contact the Shareholders Foundation.