An investigation on behalf of investors of Tibco Software Inc. (NASDAQ:TIBX) in connection with the proposed takeover was announced and NASDAQ:TIBX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/06/2014 -- The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Tibco Software Inc. (NASDAQ:TIBX), was initiated concerning whether the takeover of Tibco Software Inc. by Vista Equity Partners is unfair to NASDAQ:TIBX stockholders.
Investors who purchased shares of Tibco Software Inc. (NASDAQ:TIBX) and currently hold any of those NASDAQ:TIBX 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 Tibco Software Inc. breached their fiduciary duties owed to NASDAQ:TIBX investors in connection with the proposed acquisition.
On September 29, 2014 - Tibco Software Inc. (NASDAQ:TIBX) announced that it has entered into an agreement to be acquired by Vista Equity Partners. Under the terms of the agreement, Tibco Software Inc. (NASDAQ:TIBX) stockholders will receive $24.00 per share in cash, or a total of approximately $4.3 billion, including the assumption of net debt.
However, given that NASDAQ:TIBX shares traded in 2013 as high as $26.37, respectively as high as $33.50 per share in 2012, investigation concerns whether the offer is unfair to NASDAQ:TIBX stockholders. More specifically, the investigation concerns whether the Tibco Software 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.
Tibco Software Inc. reported that its annual Total Revenue rose from $754.01 million in 2010 to over $1.06 billion in 2013.
On October 2, 2014, NASDAQ:TIBX shares closed at $23.89 per share.
Those who are current investors in Tibco Software Inc. (NASDAQ:TIBX) 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