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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Orbotech Ltd. (NASDAQ: ORBK) to KLA-Tencor Corporation (NASDAQGS: KLAC). Under the terms of the transaction, Orbotech shareholders will receive $38.86 in cash and 0.25 of a KLA-Tencor common share for each share of Orbotech they own. Based on the closing price of KLA-Tencor stock on March 16, 2018, this represents a value of approximately $69.02 per share.
The investigation concerns whether the Board of Orbotech breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether KLA-Tencor Corporation is underpaying for Orbotech shares, thus unlawfully harming Orbotech shareholders.
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