BOULDER, Colo., Aug. 19, 2008 (GLOBE NEWSWIRE) -- Advertising Material -- 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.
Advertising Material