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A law firm announces it's investigating the proposed merger of Magma Design (NASDAQ:LAVA) and...

Dec. 01, 2011 8:24 AM ETMagma Design Automation, Inc. (LAVA) StockLAVA, SNPSBy: Clark Schultz, SA News Editor
A law firm announces it's investigating the proposed merger of Magma Design (NASDAQ:LAVA) and Synopsys (NASDAQ:SNPS) to determine if the board undertook a "fair process to obtain maximum value and adequately compensate shareholders." A release from the firm notes three analysts have higher price targets than the agreed $7.35/share offer price. Shares of LAVA, undeterred by the legal threat, trade 25.2% higher premarket.

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Magma Design Automation, Inc.