NEW YORK, Feb. 4, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cascade Microtech, Inc. ("Cascade" or the "Company") (NASDAQ: CSCD) (ISIN: US1473221018) (CUSIP: 147322101) concerning the proposed acquisition of Cascade by FormFactor Inc. ("FormFactor").
Cascade shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at email@example.com or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Cascade directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Cascade shareholders will be entitled to receive $16.00 in cash and 0.6534 of a share of FormFactor common stock, subject to the terms of the merger agreement. The transaction values Cascade at $21.13 per share, or $352 million in equity value based on the closing price of FormFactor's stock on February 3, 2016, of $7.85, for each share of Cascade common stock.
The merger agreement does not provide for a collar in the event that the stock price of FormFactor decreases prior to the consummation of the merger. Moreover, EBITDA, and EBIT multiples are below the averages of comparable transactions, according to a Bloomberg analysis.
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212-661-1100 ext. 9980
SOURCE Pomerantz LLP