Buyout Of Acme Packet -- Law Firm Seeks Higher Price For Shareholders
NEW YORK, Feb. 4, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Acme Packet, Inc (NASDAQ: APKT). Oracle (NASDAQ: ORCL) today announced that it has entered into an agreement to acquire Acme Packet for $29.25 per share.
The investigation concerns, among other things, whether the consideration to be paid to Acme shareholders is unfair, inadequate, and substantially below the fair or inherent value of the company. Indeed, the company has over $360 million of cash on its books, accounting for over $5.40 per share; thereby reducing the purchase price to Oracle from $29.25 to only $23.85 per share. Further, analysts have projected the true takeover value of the company is in excess of the buyout price.
If you own Acme common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.