Bull & Lifshitz announces investigation of Synopsys' acquisition of Virage Logic

NEW YORK, USA: Bull & Lifshitz LLP has announced an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Virage Logic Corp. by Synopsys Inc. in a transaction valued at approximately $315 million, or approximately $289 million net of cash acquired.

Under the terms of the agreement, Virage shareholders will receive $12.00 in cash for every share of Virage stock they own. The boards of directors of both companies have approved the transaction, and Virage President and CEO Alex Shubat will join Synopsys. After the closing, Virage will become part of Synopsys, and Virage stock will cease trading.

Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Company’s shareholders.