SAN DIEGO, July 13, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Maxim Integrated Products, Inc. (NASDAQ: MXIM) ("Maxim" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Analog Devices, Inc. (NASDAQ: ADI) ("Analog" or the "Company").
On July 13, 2020, Maxim announced that it had signed a definitive merger agreement with Analog. Under the terms of the merger agreement, Maxim stockholders will receive 0.630 of Analog stock for each share they own. Based on Analog's closing stock price on July 10, 2020, the s consideration to be received by Maxim stockholders is $78.43 per share.
Maxim shareholders will be subject to the future price fluctuation of Analog's stock price.
The investigation concerns whether the Maxim board failed to satisfy its 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 Maxim shares of common stock.
If you are a shareholder of Maxim and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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SOURCE Johnson Fistel, LLP