Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Tekelec (NASDAQ:
) (referred to as "Tekelec" or the “Company”) to a consortium led by Siris Capital Group, LLC ("Siris") and including affiliates of The ComVest Group, funds and accounts managed by GSO Capital Partners LP, Sankaty Advisors LLC, ZelnickMedia and other Siris limited partners and affiliates. The transaction is valued at approximately $780 million.
Under the terms of the agreement, all outstanding shares of Tekelec's common stock will be acquired for $11.00 per share in cash. Tekelec's management team is expected to remain in place, and Merle Gilmore, former President of Motorola's Communications Enterprise and Chairman of the Board of Airvana Network Solutions Inc., will serve as Tekelec's Executive Chairman following the closing.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders.
If you are a holder of Tekelec common stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.
If you are a shareholder of Tekelec and would like more information about our investigation, please contact Peter D. Bull, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to:
. All e-mail correspondence should make reference to Tekelec.
Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at
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Street, New York, New York 10017, (212) 213-6222. Prior results do not guarantee or predict a similar outcome with respect to any future matter