Acme Packet Investor Challenges $1.7B Oracle Deal

Law360, Wilmington (February 12, 2013, 6:46 PM EST) -- An Acme Packet Inc. shareholder on Tuesday sued to block Oracle Corp.’s $1.7 billion acquisition of the Massachusetts-based software company, alleging in a proposed class action filed in Delaware that the deal sells investors short.

Acme Packet’s board breached its duty to shareholders by agreeing to sell to the software giant for $29.25 per share — a price that fails to account for the target’s significant upside and the synergies resulting from the combination, plaintiff Willard Love says in a Delaware Chancery Court complaint.

“Given the...
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