Robbins Umeda LLP Is Investigating NYSE Euronext Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is investigating possible breaches of fiduciary duty and other violations of state law by members of the board of directors of NYSE Euronext (NYSE:NYX) in connection with their efforts to sell the NYSE Euronext to Deutsche Boerse AG (XETRA:DB1).
On February 15, 2011, NYSE Euronext and Deutsche Boerse announced a business combination agreement under which under which NYSE Euronext will be acquired by Deutsche Boerse. Under the terms of the current agreement, NYSE Euronext shareholders will receive 0.47 shares of the new company and control a mere 40% of the Company’s outstanding shares. This amounts to an approximate value of $38.12 per share of NYSE Euronext at the time of the announcement.
The investigation seeks to determine whether NYSE Euronext’s board of directors undertook a fair process to obtain maximum value for its shareholders. Several analysts had higher expectations, with price targets as high as $46.00, significantly higher than the consideration offered in the proposed acquisition.
If you own stock in NYSE Euronext and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.