An investigation on behalf of investors of Anaren, Inc. (NASDAQ:ANEN) in connection with the proposed takeover was announced and NASDAQ:ANEN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/12/2013 -- An investigation on behalf of investors, who currently hold shares of Anaren, Inc. (NASDAQ:ANEN) shares, was announced concerning whether the takeover of Anaren, Inc. by The Veritas Capital Fund IV, L.P for $28.00 per share is unfair to NASDAQ:ANEN stockholders.
Investors who purchased shares of Anaren, Inc. (NASDAQ:ANEN) and currently hold any of those NASDAQ:ANEN shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Anaren, Inc. breached their fiduciary duties owed to NASDAQ:ANEN investors in connection with the proposed acquisition.
On November 4, 2013, Anaren, Inc. (NASDAQ:ANEN) announced the signing of a merger agreement under which Anaren will be acquired by an affiliate of The Veritas Capital Fund IV, L.P. (Veritas Capital) for $28.00 per share in cash.
However, the investigation concerns whether the $28-offer is unfair to NASDAQ:ANEN stockholders. More specifically, the investigation concerns whether the Anaren Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Anaren, Inc. reported that its Total Revenue increased from $147.35 million for the 12 months period that ended on June 30, 2012 to $158.37 million for the 12 months period that ended on June 30, 2013 and that its respective Net Income rose from $8.61 million to $15.06 million.
Shares of Anaren, Inc. (NASDAQ:ANEN) grew from $16.45 per share in November 2011 to as high as $26.60 per share on October 25, 2013.
On November 11, 2013, NASDAQ:ANEN shares closed at $27.80 per share.
Those who are current investors in Anaren, Inc. shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com