Kendall Law Group, led by former federal judge Joe Kendall, is investigating Tekelec (NASDAQ: TKLC) for shareholders in connection with the proposed acquisition by Siris Capital Group, LLC. The national securities firm’s investigation seeks to determine whether Tekelec and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Tekelec shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On November 7, 2011, the companies announced the definitive merger agreement under which Tekelec would be acquired by Siris, in a transaction valued at approximately $780 million. Under the terms of the agreement, Tekelec stockholders will receive $11.00 in cash for each share of Tekelec/TKLC common stock held. The offer price represents an 11 percent to Tekelec's Friday closing price of $9.90. Tekelec's management team is expected to remain in place at the new company. In addition, according to Thompson/First Call, analysts have set a price target as high as $16.00 per share for Tekelec’s stock. The firm’s investigation seeks to determine whether Tekelec and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.