SAN DIEGO, Oct. 7, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor, who currently holds shares of Tibco Software Inc. (TIBX), filed a lawsuit in effort to stop the proposed takeover of Tibco Software Inc. by Vista Equity Partners for $24 per TIBX share.
Investors, who purchased shares of Tibco Software Inc. (TIBX) prior to September 29, 2014, and currently hold any of those TIBX shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
On September 29, 2014, Tibco Software Inc. announced that it has entered into an agreement to be acquired by Vista Equity Partners. Under the terms of the agreement, Tibco Software Inc. (TIBX) stockholders will receive $24.00 per share in cash, or a total of approximately $4.3 billion, including the assumption of net debt.
However, the plaintiff claims that the $24-offer is too low and undervalues Tibco Software Inc. Indeed, TIBX shares traded in 2013 as high as $26.37, respectively as high as $33.50 per share in 2012. In addition, Tibco Software's performance improved recently. In fact, Tibco Software reported that its annual Total Revenue rose from $754.01 million in 2010 to over $1.06 billion in 2013. Furthermore, the plaintiff alleges that the acquisition process is also unfair to TIBX stockholders.
Those who currently are Tibco Software Inc. (TIBX) shares and purchased any of those TIBX shares prior to the takeover announcement have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.