Kendall Law Group Investigates Sybase, Inc. Merger for Shareholders
May 13 2010 - 12:36PM
Business Wire
Kendall Law Group, a national securities firm, is investigating
Sybase, Inc. (NYSE: SY) for shareholders in connection with the
proposed sale of Sybase to SAP America, a subsidiary of SAP AG. The
firm’s investigation seeks to determine whether Sybase and its
Board breached their fiduciary duties by entering into the
agreement without properly shopping for a deal that would provide
better value for shareholders. If you are a Sybase shareholder and
would like additional information about your rights, contact the
Kendall Law Group at 877-744-3728 or by email at
skendall@kendalllawgroup.com.
On May 12, 2010, the companies announced that they had entered
into an agreement for Sybase to be acquired by SAP for $5.8
billion. According to the agreement, Sybase shareholders will
receive $65.00 per share. However, by 8 p.m. EDT on Wednesday,
Sybase stock was trading in after hour markets at just under the
offer price. Despite outperforming Wall Street revenue estimates
for the first quarter, Sybase share prices recently took a hit in
April due in part to rating downgrades from Standard & Poor’s
and Jeffries & Co.. Due to these factors, the firm believes the
transaction may be undervaluing the company.
Kendall Law Group was founded by a former federal judge and a
former United States Attorney, and includes securities lawyers and
former prosecutors who are experienced in complex securities
litigation. The firm has been counsel in dozens of merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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