National Semiconductor Investor Sues Over $6.5B TI Bid

Law360, New York (April 12, 2011, 6:55 PM EDT) -- An investor in California-based National Semiconductor Corp. filed a lawsuit Monday to block a $6.5 billion buyout by Texas Instruments Inc., saying the offer is too low, according to investor advocacy group Shareholders Foundation.

The investor contended that Texas Instruments' all-cash offer of $25 per share for National Semiconductor was not enough considering that the company pulled in roughly $1.4 billion in its latest 53-week filing period, Shareholders Foundation said. National Semiconductors also increased its net income to $209.2 million, from $73.3 million, in the same...
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