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Kendall Law Group Investigates Netezza Corporation Acquisition for Shareholders

^{Published on 2010-09-20 06:51:10 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge, is investigating Netezza Corporation (NYSE: NZ) for shareholders in connection with the proposed acquisition by IBM. The firm is investigating whether Netezza properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value for shareholders. If you are a Netezza shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On September 20, 2010 the companies announced that they had entered into a definitive merger agreement under which Netezza would be acquired by IBM in a transaction valued at approximately $1.7 billion. Under the terms of the agreement, Netezza stockholders will receive $27.00 in cash for each share of Netezza/NZ common stock, which represents a 9.8% premium over the closing price on September 17, 2010. Based on historical stock prices, the firm believes the transaction significantly undervalues the company.

Kendall Law Group was founded by former federal judge Joe Kendall, 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.