Law Firm Brower Piven Announces Investigation in Connection With the Acquisition of Ariba, Inc. by SAP AG
23 Mai 2012 - 5:35PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Ariba, Inc. (Nasdaq: ARBA) (“Ariba”) and
other violations of state law by the board of directors of Ariba
relating to the proposed acquisition of the company by SAP
AG (“SAP”). The firm’s investigation seeks to determine, among
other things, whether the board breached its fiduciary duties by
failing to maximize shareholder value.
On May 22, 2012, SAP and Ariba announced that they had entered
into an agreement providing for SAP to acquire Ariba for
approximately $4.3 billion. Under the terms of the merger
agreement, Ariba shareholders will receive $45.00 for each share of
Ariba common stock held. However, according to Yahoo! Finance, at
least one analyst has set a high price target of $50.00 per
share.
If you currently own shares of Ariba and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
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