AVX Corporation
AVX CORPORATION (AVX) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of AVX Corporation
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of AVX Corporation (NYSE: AVX) (“AVX” or the “Company”) relating to the sale of the Company to Kyocera Corporation (“Kyocera”), which owns and controls over 72% of AVX’s stock. The two parties have announced that they reached an agreement in principle pursuant to which Kyocera will acquire AVX in a going private merger via a tender offer. As a result of the merger, AVX shareholders are only anticipated to receive $21.75 per share in cash in exchange for each share of AVX.
Andrews & Springer’s investigation so far has revealed that the consideration AVX shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, the deal consideration is only a 5.78% premium to AVX’s closing share price of $20.56 on February 20, 2020, one day before the Merger was publicly announced. Our investigation has also revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest thus making the process and consideration unfair.
If you own shares of AVX and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/avx-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.