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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Actel Corporation in Connection With the Pr

^{Published on 2010-10-04 18:41:04 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Actel Corporation (aActela or the aCompanya) (NASDAQ:ACTL) related to the Companya™s agreement to be acquired by Microsemi Corporation (aMicrosemia). The proposed transaction is valued at approximately $430 million, net of Actela™s projected cash balance at closing.

Under the terms of the definitive acquisition agreement entered into by the parties, Microsemi will commence a cash tender offer to acquire Actela™s outstanding shares of common stock at $20.88 per share, followed by a merger which would result in all shares not tendered in the tender offer being converted into the right to receive the same per-share cash consideration. The transaction is expected to close in Microsemia™s fiscal first quarter, ending January 2, 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Actela™s board of directors.

If you are a shareholder of Actel, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].