Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acqusition of Volterra Semiconductor Corp. Maxim announced that it is buying all the outstanding shares of Volterra for only $23 per share.
The investigation concerns whether the board and senior management engaged in a full and fair auction process to sell the company for the highest amount while not seeking personal benefits for themselves in selling to Maxim at this price. Indeed., while the offer is a premium to where the stock was trading at, the offer does not take into consideration the over $150 million of cash or $6.10 per share (and no debt) of the company, which reduces the takeover price to less than $17 per share. We believe this cash should go to shareholders rather than Maxim to help pay for their acquisition.
If you are a shareholder of Volterra and would like additional information please contact us at 1-877-772-3975 or email at contact @ tripplevy