BOULDER, Colo., Aug. 19, 2008 (LAWFUEL) — The Shuman Law Firm today announced that it is investigating the proposed acquisition of TurboChef Corporation (“TurboChef”)(Nasdaq:OVEN).
On August 12, 2008, TurboChef announced that it has entered into a
definitive merger agreement with The Middleby Corporation and Chef
Acquisition Corp. Under the terms of the agreement, TurboChef
shareholders would receive $3.67 per share in cash and 0.0486 Middleby
common shares per TurboChef share. The proposed acquisition is expected
to close in the fourth quarter of 2008 and is subject to customary
conditions and regulatory approval.
The proposed merger includes deal protection devices including: (i) a
no solicitation clause that prevents TurboChef from providing
confidential company information to or negotiating with competing
bidders except on very limited terms; (ii) a matching rights provision
that allows Middleby five business days to match any competing bid; and
(iii) a termination fee provision that requires TurboChef to pay
Middleby a termination fee of $7 million if the merger agreement is
terminated in favor of a superior proposal.
If you currently own TurboChef common stock and would like a free
consultation concerning your rights and interests, please contact Kip
Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email
Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at
rusty@shumanlawfirm.com.
The Shuman Law Firm has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial
fraud. The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in securities class actions.
