BOSTON, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, has opened an investigation into the a proposed sale of AVX Corporation (NYSE: AVX) to its controlling stockholder, Kyocera Corporation.
Under the terms of the proposed merger, Kyocera will make an all-cash tender offer of $21.75 per share for the outstanding common stock of AVX. This will be followed by a squeeze-out merger in which all shares of AVX not tendered (other than shares owned by holders who validly seek appraisal or shares already held by Kyocera) will be converted into the right to receive $21.75 per share of AVX common stock, in cash. Kyocera currently owns approximately 72% of the outstanding shares of AVX common stock. Following completion of the Transaction, AVX will become a wholly owned subsidiary of Kyocera.
If you are an AVX shareholder and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/avx.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com