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Kendall Law Group Investigates Actel Corporation Acquisition for Shareholders

^{Published on 2010-10-04 08:30:44 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Actel Corporation (NASDAQ: ACTL) for shareholders in connection with the proposed acquisition by Microsemi Corporation. The national securities firma™s investigation seeks to determine whether Actel 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 Actel 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 October 4, 2010, Microsemi announced the definitive merger agreement under which Actel would be acquired by Microsemi in a transaction valued at approximately $430 million, net of Actel's projected cash balance at closing. Under the terms of the agreement, Actel stockholders will receive $20.88 in cash for each share of Actel/ACTL common stock held. While the offer price represents an approximately 30% premium over Actela™s Friday closing price, pre-market trading saw the stock trading for over $21. 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.