Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Novellus Systems, Inc. (Nasdaq: NVLS) (referred to as "Novellus" or the “Company”) to Lam Research Corp. (“Lam Research”), in an all-stock transaction valued at approximately $3.3 billion.
Under the terms of the merger agreement, Novellus stockholders will receive 1.125 shares of Lam Research common stock for each share of Novellus that they own, in a tax-free exchange. Based on the closing price of Lam Research's stock on December 14, 2011, the transaction values Novellus at a price of $44.42 per common share. Upon closing, Lam Research and Novellus stockholders will own approximately 59 percent and 41 percent, respectively, of the combined company.
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 Novellus 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 Novellus 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: firstname.lastname@example.org. All e-mail correspondence should make reference to Novellus. 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 www.nyclasslaw.com. ATTORNEY ADVERTISING . © 2011 Bull & Lifshitz, LLP. The law firm responsible for this advertisement is Bull & Lifshitz, LLP, 18 East 41 st 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 .