Ex-Maxim Shareholder Urges Second Look at Analog Deal Challenge

A former Maxim Integrated Products Inc. shareholder asked Delaware’s highest court on Wednesday to revive a challenge to the circuit maker’s $21 billion sale to Analog Devices Inc.

Court of Chancery Vice Chancellor Morgan Zurn, in ruling last May, granted a motion to dismiss the ex-shareholder’s lawsuit alleging Maxim’s sale to Analog, a semiconductor company, wrongly suspended $500 million in dividends to pressure investors into quickly approving the deal.

Nothing in the information available to Maxim’s stockholders about the deal properly disclosed the relationship between the dividend suspensions and potential post-acquisition tax liability for income from Maxim’s offshore subsidiaries, said ...