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| Protecting the Rights of Shareholders and Consumers |
Intellon Corporation Securities Litigation
Intellon Corporation (NasdaqGM: ITLN) shareholder litigation over alleged unfair takeover
On September 8, 2009, Intellon Corporation (“Intellon” or the “Company”) announced that it agreed to sell the
Company to Atheros Communications Inc. ("Atheros") (NasdaqGS: ATHR). Under the terms of the agreement, Intellon
shareholders can elect to receive for each Intellon share they own either 0.267 Atheros shares, $7.30 in cash, or 0.125 Atheros
shares plus $3.60 in cash. The actual amounts each Intellon shareholder will receive will be subject to adjustments that reflect
the elections of other Intellon shareholders. The total transaction is valued at approximately $244 million.
For fiscal year 2008, the Company reported revenues of $75.37 million and net income of $921,000 as compared to revenues of
$52.31 million and a loss of $14.07 million for 2007. The investigation concerns whether the merger consideration is adequate
and whether the Intellon Board of Directors breached their fiduciary duties to Intellon shareholders by agreeing to a strict no-
solicitation provision and an $8.5 million termination fee that will all but ensure that no superior proposal will ever be forthcoming.
On September 8, 2009, Intellon Corporation (“Intellon” or the “Company”) announced that it agreed to sell the
Company to Atheros Communications Inc. ("Atheros") (NasdaqGS: ATHR). Under the terms of the agreement, Intellon
shareholders can elect to receive for each Intellon share they own either 0.267 Atheros shares, $7.30 in cash, or 0.125 Atheros
shares plus $3.60 in cash. The actual amounts each Intellon shareholder will receive will be subject to adjustments that reflect
the elections of other Intellon shareholders. The total transaction is valued at approximately $244 million.
For fiscal year 2008, the Company reported revenues of $75.37 million and net income of $921,000 as compared to revenues of
$52.31 million and a loss of $14.07 million for 2007. The investigation concerns whether the merger consideration is adequate
and whether the Intellon Board of Directors breached their fiduciary duties to Intellon shareholders by agreeing to a strict no-
solicitation provision and an $8.5 million termination fee that will all but ensure that no superior proposal will ever be forthcoming.
