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Please see the below:
UPDATE ON ACQUISITION BY TRIPP LEVY PLLC
New York, Sept. 8 – Tripp Levy PLLC is investigating potential claims against Intellon Corp. (“ITLN”) related to the proposed acquisition by Atheros Communications Inc. It was announced that Atheros will acquire Intellon in a stock and cash transaction valued at approximately $244 million, or $181 million net of Intellon's cash, cash equivalents and short-term investments as of June 30, 2009. Under the terms of the agreement, Atheros will pay $7.30 per share. Intellon shareholders may elect to receive either: 1) approximately 0.135 shares of Atheros common stock and approximately $3.60 in cash, 2) $7.30 in cash, or 3) approximately 0.267 shares of Atheros common stock, for each share of Intellon common stock. In addition, 22% of ITLN shareholders have already approved of the transaction.
The investigation concerns possible breaches of fiduciary duty by the board of directors of ITLN related to the acquisition by Atheros, including the acceptance of an amount below the company’s true inherent value. If you own shares in ITLN and would like to discuss this matter further, please contact:
Tripp Levy PLLC
Peter Liddle
Toll Free: 877-772-397
Email: contact@tripplevy.com
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