Levi & Korsinsky, LLP Investigates Merger Transaction Proposed by Tyco Electronics, Ltd. - TEL
Levi & Korsinsky is investigating the proposed merger transaction between Tyco Electronics and ADC Telecommunications for possible breaches of fiduciary duty and other violations of state law.
- New York, NY (1888PressRelease) July 15, 2010 - Levi & Korsinsky is investigating the proposed merger transaction between Tyco Electronics, Ltd. ("Tyco") (NYSE: TEL) and ADC Telecommunications, Inc. for possible breaches of fiduciary duty and other violations of state law. Under the terms of the transaction, Tyco is offering $12.75 in cash to ADC shareholders for each share of common stock they own for a total transaction value of approximately $1.25 billion.
The investigation concerns whether the ADC Board of Directors breached their fiduciary duties by failing to adequately shop the Company before entering into this transaction, and whether Tyco is aiding and abetting such breaches by underpaying for ADC shares, thus unlawfully harming ADC stockholders. In particular, at least one analyst set a price target for ADC stock at $13.00 per share.
If you own common stock in ADC and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi ( @ ) zlk dot com or by telephone at 212- 363-7500, Toll-free 877-363-5972, or visit http://www dot zlk dot com/adc-telecommunications-adct dot html dot
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
Toll Free: (877) 363-5972
www.zlk.com
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