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Copyright © 2012 Levi & Korsinsky, LLP
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| Taleo Corporation |
| Taleo Corporation (Nasdaq: TLEO) shareholder litigation in connection with alleged unfair takeover offer |
On February 9, 2012, Taleo Corporation ("Taleo" or
the "Company") announced that it has agreed to sell
the Company to Oracle Corporation (Nasdaq:
ORCL). Under the terms of the agreement, Taleo
shareholders will receive $46.00 per share of Taleo
stock they own. The transaction has a total
approximate value of $1.9 billion.
the "Company") announced that it has agreed to sell
the Company to Oracle Corporation (Nasdaq:
ORCL). Under the terms of the agreement, Taleo
shareholders will receive $46.00 per share of Taleo
stock they own. The transaction has a total
approximate value of $1.9 billion.
The investigation concerns whether the Taleo Board of Directors breached their fiduciary duties to
Taleo stockholders by failing to adequately shop the Company before entering into this transaction
and whether Oracle Corporation is underpaying for Taleo shares, thus unlawfully harming Taleo
stockholders. In particular, at least one analyst set a price target of $50.00 per Taleo share.
Taleo stockholders by failing to adequately shop the Company before entering into this transaction
and whether Oracle Corporation is underpaying for Taleo shares, thus unlawfully harming Taleo
stockholders. In particular, at least one analyst set a price target of $50.00 per Taleo share.
