This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders Avocent Corp. 2009-10-13 20:34 ET - News Release
BALA CYNWYD, Pa. -- (Business Wire)
Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Avocent Corp.
(“Avocent” or the “Company”) (Nasdaq: AVCT) relating to the proposed
acquisition Emerson Electric Co.. (“Emerson”). Emerson has agreed to
acquire Avocent in an all-cash deal valued at approximately $1.2 billion.
Under the proposed agreement, Avocent shareholders will receive $25.00
for every share of Avocent common stock they own. The investigation
concerns possible breaches of fiduciary duty and other violations of
state law related to the Avocent board’s approval of the proposed
merger. The proposed agreement gives Emerson five business days to make
a counter-proposal if the Avocent board receives a superior proposal. It
also contains a $35 million termination fee that may prevent any other
superior bids.
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