Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of 3Com Corporation (NASDAQ: COMS) by Hewlett-Packard Company. According to the agreement, shareholders will receive $7.90 per 3Com share owned. The transaction is expected to close in the first half of calendar 2010 and is subject to customary closing conditions, including the receipt of domestic and foreign regulatory approvals and the approval of 3Com stockholders.
On November 11, 2009, HP and 3Com announced that the $2.7 billion transaction has been approved by the board of directors of both companies. The firm’s investigation concerns whether the consideration to be paid to shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors may have breached their fiduciary duties in disregarding the shareholders’ best interests by not adequately shopping the 3Com before entering into the transaction.
If you are a current holder of COMS and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: 3Com, COMS, Hewlett-Packard, HP, investigation, Kendall Law Group, NASDAQ:COMS, shareholder