Key Developments For Avocent Corporation
Avocent Corporation (AVCT.O) (Nasdaq)
Emerson Extends Tender Offer For Avocent Corporation
Emerson announced that it has extended its tender offer to purchase all of the outstanding shares of common stock of Avocent Corporation to 5:00 p.m. Eastern Standard Time (EST) on December 7, 2009. The offer was previously scheduled to expire at 5:00 p.m., EST, on November 30, 2009. All other terms and conditions of the tender offer remain unchanged. The tender offer was extended pending the expiration or termination of the applicable waiting period under the competition law of Hungary. The conditions to the offer relating to the expiration or termination of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and the receipt of clearances under the competition laws of Austria, Germany, and Ireland have been satisfied.
Emerson Extends Tender Offer For Avocent Corporation
Emerson announced that it has extended its tender offer to purchase all of the outstanding shares of common stock of Avocent Corporation to 5:00 p.m. Eastern Standard Time (EST) on November 30, 2009. The offer was previously scheduled to expire at 12:00 midnight, EST, on November 12, 2009. All other terms and conditions of the tender offer remain unchanged.
Microsoft Gains End To End Control of Thames Valley Data Center With Avocent Corporation's Management Solution
Avocent Corporation announced that Microsoft has opted to use an Avocent hardware, software and services data management solution to manage its Microsoft Technology Center (MTC) Thames Valley facility. Tools include Avocent DSView 3 management software, which provides a single point of control via a simple Web-based interface, so IT administrators can remotely control servers and network equipment. IT managers no longer have to regularly visit the data center, even when a server crashes, shaving hours every week from their schedule.
Law Office of Brodsky & Smith, LLC Announces Investigation On Behalf Of Shareholders Avocent Corporation
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Avocent Corporation relating to the proposed acquisition Emerson Electric Co.. (Emerson). Emerson has agreed to acquire Avocent in an all cash deal valued at approximately $1.2 billion. Under the proposed agreement, Avocent shareholders will receive $25.00 for every share of Avocent common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Avocent board's approval of the proposed merger. The proposed agreement gives Emerson five business days to make a counter proposal if the Avocent board receives a superior proposal. It also contains a $35 million termination fee that may prevent any other superior bids.
Emerson To Acquire Avocent Corporation
Emerson and Avocent Corporation announced that they have reached agreement for Emerson to acquire Avocent Corporation. The Avocent Board of Directors unanimously endorsed the terms of an all-cash tender offer of $25 per share, or approximately $1.2 billion. The purchase is expected to close around January 1, 2010, pending customary regulatory approvals and acceptance of the offer by Avocent stockholders holding a majority of Avocent shares.
