An Electronics for Imaging Inc. shareholder sued July 15 for corporate records he says he’ll use to challenge the company’s proposed sale to Siris Capital Group LLC over conflicts of interest.
EFI’s board inexplicably waived the chance to start a lucrative bidding war when they accepted a $37-a-share offer by Siris that was only $1-per-share better than a competing proposal, according to the lawsuit filed in Delaware Chancery Court.
The unidentified competing company then teamed up with another to top the private equity firm’s price, the complaint claims. But EFI’s directors went with Siris anyway, forcing the other two companies ...
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