Ademi LLP is investigating National Instruments (Nasdaq: NATI) for possible breaches of fiduciary duty and other violations of law in its transaction with Emerson.
Ademi LLP alleges National Instruments’ financial outlook and prospects are excellent and yet National Instruments shareholders will receive only $53 per share in cash at an implied enterprise value of $7.6 billion. The transaction agreement unreasonably limits competing bids for National Instruments by imposing a significant penalty if National Instruments accepts a superior bid. National Instruments insiders will receive substantial benefits as part of change of control arrangements.