(XLNX): Johnson Fistel Investigates Proposed Sale of Xilinx; Are Shareholders Getting a Fair Deal?
SAN DIEGO, Oct. 27, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Xilinx (NASDAQ: XLNX) breached their fiduciary duties in connection with the proposed sale of the Company to Advanced Micro Devices, Inc. ("AMD") (NASDAQ: AMD).
On October 27, 2020, Xilinx announced that it had entered into a definitive merger agreement with AMD. Under the terms of the deal, Xilinx shareholders will receive 1.7234 shares of AMD common stock for each share of Xilinx common stock, valuing Xilinx at approximately $141.72 per share based on AMD's closing price on October 26, 2020. Xilinx shareholders will be subject to the future price fluctuation of AMD's stock price.
The investigation concerns whether the Xilinx board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Xilinx shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth.
If you are a shareholder of Xilinx and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
