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Kendall Law Group Investigates Microtune Inc. Acquisition for Shareholders

^{Published on 2010-09-08 07:56:43 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Microtune Inc. (NASDAQ: TUNE) for shareholders in connection with the proposed acquisition by the Zoran Corporation. The national securities firma™s investigation seeks to determine whether Microtune 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 Microtune 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 ].

On September 8, 2010 Zoran announced that the companies have entered into a definitive merger agreement under which Microtune would be acquired by Zoran in a transaction valued at approximately $166 million, or $84 million net of cash acquired. Under the terms of the agreement, Microtune stockholders will receive $2.92 in cash for each share of Microtune/TUNE common stock held, a 19% premium over the companya™s Tuesday closing price. In addition, according to Thompson/First Call, at least one analyst has set a price target of $5.00 per share for Microtune stock. Due to these factors, the firm believes the transaction significantly undervalues the company.

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.