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Kyocera AVX buyout to be investigated

Kyocera AVX buyout to be investigated

March 19, 2020

Grabar Law Office is investigating potential claims against the Board of Directors of AVX Corporation for possible breaches of fiduciary duty and other violations of Delaware state law in connection with the proposed sale of the Company to Kyocera Corporation.

On 21 February 2020, AVX announced that it had entered into a merger agreement, in which Kyocera will acquire “all the outstanding shares of common stock of AVX not owned by Kyocera pursuant to an all-cash tender offer for $21.75 (€20.24) per share.

On 2 March 2020, AVX filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the S.E.C. that revealed that the AVX’s Special Committee determined that the value of Kyocera’s initial proposal was insufficient and that the Special Committee believed the appropriate purchase price should be in the range of $23.00 (€21.40) to $25.00 (€23.26) per share.

If you are an AVX shareholder and believe the proposed buyout price is too low and want to learn more about your rights, and how you and other shareholders may benefit, contact jgrabar@grabarlaw.com or call +1 (0) 267-507-6085.

Categories : City News

Tags : AVX Investigation Kyocera Mergers

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