DALLAS, Oct. 9, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group, led by a former federal judge and former U.S. Attorney, announces a shareholder investigation into Avocent Corporation (Nasdaq:AVCT) in connection with an agreement to sell the Company to Emerson Electric Co.
The firm is investigating whether the board of directors of Avocent breached their fiduciary duty and other violations of state law related to the approval of the acquisition, which is expected to close around January 1, 2010. According to the agreement, Emerson will pay $25 per Avocent share, a 22% premium to the closing price of $20.52 on Monday. After the announcement, Emerson shares were up 2 cents and Avocent jumped from $4.28 to $24.80. The transaction is expected to boost Emerson's ability to deliver total infrastructure management solutions to its data center customers around the world.
Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. If you have information concerning this merger or want to learn more about your rights as a shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
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