Science & Technology
Science and Technology
Science and Technology
Wed, July 14, 2010
Tue, July 13, 2010
Kendall Law Group Investigates ADC Telecommunications, Inc. Acquisition for Shareholders
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by a former federal judge and a former U.S. Attorney, is investigating ADC Telecommunications, Inc. (NASDAQ: ADCT) for shareholders in connection with the proposed acquisition by Tyco Electronics. The national securities firma™s investigation seeks to determine whether ADC 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 an ADC shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].
"possible boost from U.S. broadband stimulus funding in the second half of 2010."
Tyco and ADC announced today that they had entered into a definitive agreement under which Tyco would acquire ADC for $12.75 per share in cash in a $1.24 billion deal. ADCa™s latest financial filings for the quarter ended April 2, 2010 posting an income of 10 cents per share and a 7 percent increase in revenue to $274 million, beating Thomson Financial analystsa™ forecast earnings of 6 cents per share on revenue of $273 million. The results led a UBS analyst to upgrade ADC to "Buy" from "Neutral" and to raise the 12-month price target to $10.50, citing aa combination of better visibility into factors that would drive revenue growth for ADC and the company's management of costsa and noting a apossible boost from U.S. broadband stimulus funding in the second half of 2010.a In addition, a Credit Suisse analyst raised his 12-month share price target due to ADC's afiscal second-quarter results and outlook for third quarter show that business trends are improving.a
Kendall Law Group was founded by a former federal judge, and 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.
