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

|About: Magma Design Automation, ... (LAVA)|By:, SA News Editor

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