May 12, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Jive Software Inc (NASDAQ:JIVE), was announced concerning whether the takeover of Jive Software Inc. byW Capital, LLC, through its affiliate Wave Systems is unfair to NASDAQ:JIVE stockholders.
The investigation by a law firm concerns whether certain officers and directors of Jive Software Inc breached their fiduciary duties owed to NASDAQ:JIVE investors in connection with the proposed acquisition.
On May 1, 2017, Jive Software Inc (NASDAQ:JIVE) announced that ESW Capital, LLC, through its affiliate Wave Systems, is acquiring Jive Software Inc (NASDAQ:JIVE) and that Jive will become a part of the Aurea family of companies. The transaction is valued at $462 million. Under the terms of the agreement, an affiliate of Aurea will commence a tender offer for all of the outstanding shares of Jive Software Inc (NASDAQ:JIVE) common stock for $5.25 in cash per share.
However, the investigation concerns whether the offer is unfair to NASDAQ:JIVE stockholders. More specifically, the investigation concerns whether the Jive Software Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.