Several law firms are taking a look at the Tyco Electronics acquisition of ADC for approximately $1.25 billion to determine whether or not ADC's board accepted an offer from Tyco that represents the best value for shareholders. Such investigations are not uncommon when acquisitions are announced.
A release issued by ADC and appearing on the company's Web site stated that Kendall Law Group is undertaking an investigation. (Presumably this is not the same law firm that helped ADC settle a patent-infringement suit against Tyco last fall. I'm just saying ...) Other firms issued releases announcing similar investigations.
A story by Jeffry Bartash of MarketWatch points out that the $12.75 share price accepted by ADC's board is a 44 percent premium over the stock's closing price on July 12. Bartash's article focuses on the fact that the announced deal buoyed equipment-vendor stocks on July 13.
You can track what's going on with the stocks of players in the cabling industry through our Cabling Market Index.
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