NEW YORK, July 21, 2008 (PRIME NEWSWIRE) -- Levi & Korsinsky announces an investigation on the proposed acquisition of Centillium Communications, Inc. ("Centillium" or the "Company") (Nasdaq:CTLM).
On July 9, 2008, Centillium announced that it has entered into a definitive merger agreement with TranSwitch Corporation - TXCC. Under the terms of the Merger Agreement, TranSwitch will issue an aggregate of 25 million shares of common stock and $15 million, which will be allocated pro rata among holders of Centillium common stock and vested, in-the-money, stock options outstanding at the closing of the Merger. Based on Centillium's capitalization as of July 9, 2009, Centillium shareholders would receive 0.5958 shares of TranSwitch common stock and $0.36 in cash for each share of Centillium common stock. Subject to customary conditions and regulatory approvals the acquisition will be completed in the fourth quarter of 2008. Upon closing, Centillium will no longer be publicly traded. If you own common stock in Centillium and wish to obtain additional information please contact us at the number listed below.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
About Centillium Communications, Inc.
Centillium Communications, Inc. designs, develops and supplies highly integrated programmable system-on-a-chip (SoC) solutions that enable high-speed broadband access, which is the delivery of high capacity bandwidth to consumers and enterprises for networking of data, voice and video signals.