SAN DIEGO, Sept. 13, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Intersil Corporation (NASDAQ: ISIL) breached their fiduciary duties in connection with the proposed sale of the Company to Renesas Electronics Corporation.
Intersil designs and develops power management and precision analog integrated circuits (ICs) for applications in the infrastructure, industrial, automotive, military, aerospace, computing and consumer markets.
On September 12, 2016, Intersil announced it had signed a definitive merger agreement with Renesas. Under the terms of the agreement, Renesas will pay $22.50 per share in cash for each share of Intersil common stock.
The investigation concerns whether the Intersil board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Intersil shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration. Intersil has over $250 million in cash and no long-term debt.
If you are a shareholder of Intersil and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP