Robbins Umeda LLP Is Investigating National Semiconductor Corporation Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of National Semiconductor Corporation (NYSE: NSM). The Firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of National Semiconductor in connection with their efforts to be acquired by Texas Instruments Incorporated (NYSE: TI).
On April 4, 2011, National Semiconductor announced it has entered into a definitive merger agreement under which National Semiconductor will be acquired by Texas Instruments in an all-cash transaction. Under the current agreement, National Semiconductor shareholders will receive $25 in cash for each share of National Semiconductor common stock they hold. The transaction is expected to close in six to nine months.
The investigation is focused on whether National Semiconductor’s board is undertaking a fair process to obtain maximum value for its shareholders. Of particular interest, under the terms of the agreement, National Semiconductor may not solicit acquisition proposals from third parties. In addition, the agreement includes a $200 million termination fee.
If you own stock in National Semiconductor and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.