The Ademi Firm is investigating Qorvo (NYSE: QRVO) for possible breaches of fiduciary duty and other violations of law in its transaction with Skyworks.
In the transaction, Qorvo shareholders will receive $32.50 in cash and 0.960 of a Skyworks common share for each Qorvo share held at closing. Upon completion, Skyworks shareholders will own approximately 63 percent of the combined company, while Qorvo shareholders will own approximately 37 percent on a fully-diluted basis.
Qorvo insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Qorvo by imposing a significant penalty if Qorvo accepts a competing bid. We are investigating the conduct of the Qorvo board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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