WeissLaw LLP: Echelon Corp. Acquisition May Not Be In The Best Interest of ELON Shareholders

WeissLaw is investigating whether ELON's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, at least one analyst set a target price of $12.50 per ELON share, or $4.00 above the offer price.  Additionally, the acquisition is a lopsided transaction that heavily favors the interests of IOTS and shareholders.  According to IOTS's CEO, "[w]ith the acquisition of [ELON], we are continuing to advance toward our vision of becoming a significant player in semiconductor and communication systems for IoT markets."  Through the acquisition of the Company, IOTS anticipates increased revenue and acceleration in its margin expansion opportunities; accretion to its EBITDA and non-GAAP earnings within the first 12 months; substantial increases in Served Available Market; and a broader portfolio of semiconductors, software and system solution for Industrial IOT.  

Given these facts, WeissLaw is investigating whether ELON's Board acted in the best interests of ELON's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own ELON shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.