Morgan & Morgan Announces the Investigation of TriQuint Semiconductor, Inc.
NEW YORK, Feb. 27, 2014 /PRNewswire/ -- Morgan & Morgan announces that it is investigating the Board of Directors of TriQuint Semiconductor, Inc. ("TriQuint") (NASDAQ: TQNT) concerning its proposed merger agreement with RF Micro Devices, Inc. ("RF Micro") (NASDAQ: RFMD).
If you own shares of TriQuint and want more information about the merger please contact George Pressly, Esq. at 1(800) 732-5200 or email George at AskGeorge@morgansecuritieslaw.com.
TriQuint announced that it has entered into an agreement and plan of merger with RF Micro in an all-stock transaction to create a new combined company in radio frequency solutions. The proposed merger would provide TriQuint stockholders with implied value of $9.73 per share of TriQuint stock owned, a premium of only 5.4% premium to TriQuint's closing stock price of $9.23 per share on February 21, 2014. The entire transaction is valued at $1.6 billion.
The proposed merger is expected to close in the second half of 2014 and to result in TriQuint stockholders owning approximately 50% of the combined company. Pursuant to the deal, TriQuint's President and Chief Executive Officer Ralph Quinsey will serve as non-executive chairman of the combined company's board of directors.
Our investigation concerns possible breaches of fiduciary duty and other violations of law by TriQuint's Board of Directors for not acting in the best interest of the Company's shareholders' in connection with the sale process.
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