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© tom_schmucker dreamstime.com Business | May 29, 2015

Law firm investigating pricing of Avago / Broadcom deal

Law firm Rigrodsky & Long has some questions about the agreement where Avago will acquire Broadcom. The firm is investigating whether Broadcom's board managed to get the best possible value for its shareholders.
Maybe all is not well with the proposed acquisition of Broadcom by Avago. Rigrodsky & Long is investigating potential legal claims against the board of directors of Broadcom regarding possible breaches of fiduciary duties and other violations of law related to the agreement.

“The investigation concerns whether Broadcom's board of directors failed to adequately shop the Company and obtain the best possible value for Broadcom's shareholders before entering into an agreement with Avago,” Rigrodsky & Long states in a press release.

According to Yahoo! Finance, at least one analyst has issued a price target for Broadcom stock at USD 63.00 per share, and according to the agreement, shareholder will get USD 54.50 in cash per share.
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