Robbins Arroyo LLP: Acquisition of PMC-Sierra, Inc. (PMCS) by Skyworks Solutions, Inc. (SWKS) May Not Be in Shareholders’ Best Interests
October 6, 2015 (San Diego, CA & Sunnyvale, CA) – Robbins Arroyo LLP is investigating the proposed acquisition of PMC-Sierra, Inc. (Nasdaq: PMCS) by Skyworks Solutions, Inc. (Nasdaq: SWKS). On October 5, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Skyworks Solutions will acquire PMC-Sierra. Under the terms of the agreement, PMC-Sierra shareholders will receive $10.50 in cash for each share of PMC-Sierra common stock.
Is the Proposed Acquisition Best for PMC-Sierra and Its Shareholders?
Robbins Arroyo LLP’s investigation focuses on whether the board of directors at PMC-Sierra is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.
The $10.50 merger consideration is significantly below the target prices of four analysts ranging from $11.00 set by an analyst at Northland Securities Inc. on July 24, 2015, to $14.00 set by an analyst at Mizuho Securities USA Inc. on July 23, 2015.
PMC-Sierra shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information.
PMC-Sierra shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003,or you can complete the form below and we will contact you directly.