Shareholder Rights Plan by Compellent Technologies Investigated by Tripp Levy PLLC
16 Dicembre 2010 - 7:28PM
Business Wire
Tripp Levy PLLC, a leading national securities firm, announces
an investigation into the proposed acquisition of Compellent
Technologies Inc. (NYSE: CML) by Dell Inc. (NASDAQ: DELL). On
December 13, 2010, Compellent announced that it entered into a
definitive merger agreement for Dell to acquire Compellent’s
outstanding shares for $27.75 per share.
The investigation concerns, among other things, whether the
consideration to be paid to Compellent shareholders is grossly
unfair, inadequate, and substantially below the fair or inherent
value of Compellent. Indeed, analysts have projected that
Compellent’s true inherent value is at least $40 per share.
In addition, on December 16, 2010, Compellent announced that its
Board of Directors had adopted a stockholder rights plan, which was
enacted to prevent an unsolicited bid by a third party to acquire
Compellent, despite whether such acquisition will result in a
higher buyout price for Compellent’s shareholders.
The investigation further concerns whether the board of
directors of Compellent may have breached their fiduciary duties by
not acting in Compellent shareholders' best interests in connection
with the sale process of Compellent.
If you own Compellent common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact
Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York,
New YorkToll Free: 877-772-3975Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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