The Branham Law Group, LLP is investigating the sale of Taleo Corporation ("Taleo" or "TLEO") (NASDAQ: TLEO) to Oracle for shareholders. The proposed transaction, scheduled to close in mid-2012, values Taleo shares at $46.00. This appears to be well below analysts’ target price of $50.00 per share.
Affected investors or anyone with information relevant to the transaction can contact Trey Branham at the Branham Law Group, toll free (855) 722-5910 or via email at firstname.lastname@example.org.
This is a definitive merger agreement with a claimed value of approximately $1.9 billion. This valuation does not include Taleo's cash and debt.
The central issue of our investigation is whether Taleo shareholders stock is being adequately valued and to determine if Taleo's board fulfilled their obligations to determine the highest share price available to all shareholders prior to finalizing the deal. While the acquisition price is approximately an 18% increase over the closing price of Taleo shares just prior to the buyout announcement, as recently as December 9, 2011, Taleo shares closed at $45.52 per share. Moreover, Yahoo! Finance has reported that at least one analyst found that that the intrinsic value of Taleo reaches $50.00 per share. Reflecting these reports, Taleo's 2011 4Q financial reports indicated a 30% increase in revenue year over year. "Taleo’s financial performance over the last year does not appear to be reflected in the buyout price,” said attorney Trey Branham, of the Branham Law Group. “Our investigation seeks to ensure that Taleo shareholders receive the maximum per share price."The Branham Law Group, LLP has extensive experience in securities and commercial litigation and has handled claims of investor fraud, partnership oppression, shareholder derivative suits, and class actions of all types. The Branham Law Group also advises whistleblowers on appropriate courses of actions.