Avocent Shareholder Sues To Halt $1.2B Emerson Deal

Law360, New York (October 22, 2009, 4:46 PM EDT) -- Appalled by the terms of Emerson Electric Co.’s proposed acquisition of Avocent Corp., an Avocent shareholder has launched a putative class action to block the $1.2 billion deal that allegedly undervalues the information technology provider and tamps competing bids.

With the merger slated to close Nov. 12, shareholder Annette Paluska filed suit Tuesday in the Delaware Court of Chancery, accusing Avocent and its board of directors of breaching their fiduciary duty by arranging a lopsided deal that, at $25 per share, expressly favors the buyer....
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