Key Developments For NYFIX, Inc.
NYFIX, Inc. (NYFX.O) (Consolidated Issue listed on NASDAQ Capital Market)
NYSE Euronext Completes Acquisition Of NYFIX
NYSE Euronext announced the completion of its acquisition, through NYSE Technologies, of NYFIX, Inc, in an all cash deal for approximately $144 million, or $1.675 per common share without interest plus preferred stock consideration.
Levi & Korsinsky LLP Announces Class Action Lawsuit Against NYFIX, Inc.
Levi & Korsinsky announced that a class action lawsuit has been filed in New York state court challenging the proposed acquisition of NYFIX, Inc. The complaint arises out of the announcement by the Company stating that it had entered into a definitive merger agreement with NYSE Euronext, Inc. Under the terms of the agreement, the Company shareholders will receive $1.675 in cash for each share of the Company they own for a total transaction value of approximately $144 million, including preferred stock consideration. The complaint alleges that the consideration offered is inadequate because it is less than the intrinsic value of the Company and that the Company Board of Directors breached their fiduciary duties by agreeing to a strict no solicitation provision and a $5 million termination fee which will all but ensure that no superior offer will ever be forthcoming. The companies expect to consummate the transaction in the fourth quarter of 2009.
Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of NYFIX, Inc.
Law Offices of Howard G. Smith announced that it is investigating potential claims against the board of directors of NYFIX, Inc. related to the Company`s agreement to be acquired by NYSE Euronext, through NYSE Euronext`s indirect, wholly-owned subsidiary NYSE Technologies, Inc., in an all-cash deal valued at approximately $144 million, including preferred stock consideration. Under the terms of a definitive agreement entered into by the parties, NYSE Euronext will acquire NYFIX for $1.675 per share of NYFIX common stock. The transaction is expected to close in the fourth quarter of 2009. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to approval of the acquisition by the NYFIX board of directors.
Wolf Haldenstein Announces Investigation Into Proposed Acquisition Of NYFIX, Inc. By NYSE Euronext
NYFIX, Inc. announced that the law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of NYFIX, Inc. (NYFIX), arising out of the proposed acquisition of NYFIX by NYSE Euronext. On August 28, 2009, NYSE Euronext announced that it would acquire NYFIX in a transaction valued at approximately $144 million. Wolf Haldenstein is investigating if NYSE Euronext is underpaying for NYFIX, thus unlawfully harming NYFIX shareholders.
NYSE Euronext's NYSE Technologies, Inc. To Acquire NYFIX, Inc.
NYSE Euronext announced that it has entered into a definitive agreement to acquire, through NYSE Technologies, Inc., its indirect, wholly owned subsidiary, NYFIX, Inc., a provider of solutions that optimize trading efficiency, in an all-cash deal for $1.675 per share of common stock. The total value of the deal is approximately $144 million, including preferred stock consideration. The transaction is expected to close in the fourth quarter of 2009. Upon closing, the NYFIX FIX business, incorporating the company's FIX Software business and the NYFIX Marketplace, will become part of the offerings provided by NYSE Technologies, the commercial technology division of NYSE Euronext.
