San Diego, CA -- (ReleaseWire) -- 06/16/2014 -- An investigation on behalf of investors, who currently hold shares of Montage Technology Group Ltd (NASDAQ:MONT), was announced concerning whether the takeover of Montage Technology Group. by anghai Pudong Science and Technology Investment Co., Ltd for 22.60 per share is unfair to NASDAQ:MONT stockholders.
Investors who purchased shares of Montage Technology Group Ltd (NASDAQ:MONT) and currently hold any of those NASDAQ:MONT shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Montage Technology Group Ltd breached their fiduciary duties owed to ASDAQ:MONT investors in connection with the proposed acquisition.
On June 11, 2014, Montage Technology Group Ltd (Nasdaq:MONT) and Shanghai Pudong Science and Technology Investment Co., Ltd. ("PDSTI"), a wholly state-owned limited liability company directly under Pudong New Area government of Shanghai, jointly announced that they have entered into a merger agreement under which Pudong Science and Technology Investment Co., Ltd will acquire all of the outstanding Ordinary Shares Montage Technology Group Ltd for US$22.60 per Ordinary Share.
However, given that at least one analyst has set the high target price for NASDAQ:MONT shares at $28.50 per share and that MONT shares traded in the open market as recently as January 17, 2014, as high as $25.63 per share, the investigation concerns whether the offer is unfair to NASDAQ:MONT stockholders. More specifically, the investigation concerns whether the Montage Technology Group 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.
Montage Technology Group Ltd reported that its annual Total Revenue rose from $29.08 million in 2010 to $110.90 million in 2013 and that its Net Loss of $8.54 million in 2010 turned into a Net Income of $25.70 million in 2013. Shares of Montage Technology Group Ltd traded as high as $25.63 per share on January 2014.
On June 13, 2014, NASDAQ:MONT shares closed at $20.99 per share.
Those who are current investors in Montage Technology Group Ltd (NASDAQ:MONT) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego