Tagged ZRAN

Nierenberg Will Vote Against Zoran Merger

See earlier posts on Zoran (ZRAN) dated 5/10/11 and going all the way back to 12/6/10; Nierenberg owns 5.1% of ZRAN shares.   Item 4.    Purpose of Transaction The Reporting Persons acquired their shares of Common Stock for investment purposes in the ordinary course of their business.  The Reporting Persons reserve the right to increase…

Zoran Acq Appears to be in Trouble

LONDON, May 9 (Reuters) – British chipmaker CSR’s agreed takeover of Zoran Corp was thrown into doubt on Monday after the U.S. firm reduced its guidance on the impact of Japan’s earthquake and lost business from Cisco.  The two companies announced an $679 million all-share deal in February to combine CSR’s wi-fi, bluetooth and GPS…

Ramius Wins at Zoran – Now What?

Comment: We are following this situation closely. Given the earnings-upside case which Ramius has made for Zoran, we are surprised at the last paragraph of this release. Recall that Ramius had pegged Zoran’s proforma EBIT at ?$60 mm and CSR deal values Zoran at $292 mm (excluding cash and at current exchange rate + CSR…

Zoran Sends Shareholders Letter

Zoran Issues Open Letter to Stockholders Proposed Merger With CSR Offers Stockholders Significant Premium and Upside Potential Through Creation of a Global Leader in Connectivity, Location and Imaging; Zoran Board Believes Adding Ramius Nominees Could Risk Creating Avoidable and Unnecessary Uncertainty With Customers, Employees and Partners Thereby Jeopardizing the Value Creation Potential of the Proposed…

ISS Sides with Ramius on Zoran

NEW YORK, Feb. 24, 2011 /PRNewswire/ — Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (collectively, “Ramius”), today announced that Institutional Shareholder Services (ISS), the leading independent proxy voting advisory and risk management consulting firm to the global financial community, has recommended that shareholders of Zoran Corporation (ZRAN:$10.97,00$0.09,000.83%) consent on Ramius’ WHITE…

Zoran Issues Letter

  Filed by Zoran Corporation Date: February 23, 2011 *** SUPPORT ZORAN’S DIRECTORS ON THE BLUE CONSENT REVOCATION CARD TODAY*** *** PROPOSED MERGER ANNOUNCED *** February 23, 2011 Dear Zoran Stockholder: Zoran has recently announced a proposed merger with CSR plc, which offers Zoran stockholders a significant premium. The transaction may also provide stockholders the…

Ramius Comments on Zoran’s Merger Announcement

Ramius Responds To Announcement Of Merger Between Zoran Corp And CSR PLC 02/22 09:03 AM Believes Transaction May Undervalue ZoranQuestions Whether Board Ran a Full and Fair Sale Process to Maximize Value for All Zoran ShareholdersStates that Change on the Zoran Board is Now More Important Than Ever and Urges Shareholders to Consent on the…

Zoran Being Acquired

CSR PLC (“CSR”: LSE: CSR.L or the “Company”) and Zoran Corporation (“Zoran”: NASDAQ: ZRAN) have entered into a merger agreement (the “Merger Agreement”) under which Zoran will merge with CSR (the “Merger”) for an equity value equivalent to approximately US$679 million* (the “Transaction Value”). Under the terms of the Merger Agreement, it is proposed that…

Ramius Accuses Zoran Mgmt of Misleading Investors

NEW YORK, Feb. 11, 2011 /PRNewswire/ — Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (collectively, “Ramius”), today announced it has filed supplemental presentation materials with the Securities and Exchange Commission (“SEC”) and issued a statement to shareholders of Zoran Corporation condemning the Zoran Board of Directors for leading a campaign of…

Zoran Management Digs Its Heels

On February 10, 2011, Zoran Corporation (the “Company”) announced that the Ramius Value and Opportunity Master Fund Ltd and other participants (collectively, “Ramius”) failed to deliver to the Company the requisite number of written consents to effect the corporate actions (the “Corporate Actions”) set forth in its written consent solicitation (the “Consent Solicitation”). Pursuant to…

Mgmt Asks Zoran Shareholders to Reject Ramius

  Press Release Source: Zoran Corporation On Tuesday February 8, 2011, 8:54 am SUNNYVALE, CA–(Marketwire – 02/08/11) – Zoran Corporation (NASDAQ:ZRAN – News) today issued the following letter, which will be mailed to its stockholders. Zoran’s Board urges all Zoran stockholders to reject Ramius’ efforts to take control of the Board of Directors and the…

Ramius Sends Letter to Zoran Shareholders

NEW YORK, Feb. 1, 2011/PRNewswire/–Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (collectively, “Ramius”), today sent a letter to shareholders of Zoran Corporation (NasdaqGS:ZRAN – News), urging shareholders to submit their white consent card to remove and replace six members of the current Board with highly qualified director candidates who are committed…

Zoran’s Latest Letter to Shareholders

January 25, 2011 Dear Zoran Stockholder: You may recently have received consent solicitation materials from Ramius LLC, a hedge fund that accumulated its entire stake in Zoran within the past three months. Ramius is asking you to sign a consent form to oust virtually the entire board that you elected last year. In place of…

Ramius’ Target Zoran Announces Prelim Results

(Please see our earlier Zoran postings dated 1/13/11, 1/7/11, 12/8/10, 12/7/10 and 12/6/10). SUNNYVALE, CA — (MARKET WIRE) — 01/21/11 — Zoran Corporation today announced that revenues for the fourth quarter ended December 31, 2010 were $68.8 million, as compared to the mid-point of its previously announced guidance of $62.5 million. Net loss per share…

Ramius Updates on Zoran Corp

Item 4. Purpose of Transaction. Item 4 is hereby amended to add the following: As previously disclosed, on December 6, 2010, Ramius filed with the Securities and Exchange Commission (the “SEC”) a preliminary consent solicitation statement, as subsequently amended on December 17, 2010, in connection with its solicitation of written consents from the stockholders of…

Ramius Re-Commences Consent Solicitation on Zoran

NEW YORK, Jan. 7, 2011 /PRNewswire/ — Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (collectively, “Ramius”), announced that it has terminated the consent solicitation it initiated on December 6, 2010 and today re-commenced with a new solicitation of consents seeking shareholder support to reconstitute the Board of Directors of Zoran Corporation….

Zoran’s Proxy Statement Re Ramius Action

Excerpt from proxy filed today: REASONS TO REJECT THE RAMIUS CONSENT SOLICITATION PROPOSAL The Ramius Group is opportunistically seeking to remove, without cause, all independent members of your duly-elected Board of Directors, and replace them with the Ramius Group’s own nominees. The Ramius Group has timed its proposal to coincide with a current downturn in…

Zoran BoD Reply to Ramius’s solicitation

I suggest that folks should take a look at Zoran stock chart and then read this response …=====================================================================================ZORAN CORPORATION URGES STOCKHOLDERS TO POSTPONE MAKING ANY DECISION REGARDING THE RAMIUS CONSENT SOLICITATION Zoran to File Consent Revocation Materials Shortly Sunnyvale, Calif. – December 8, 2010 – Zoran Corporation (NASDAQ: ZRAN) announced today, in response to the…

Ramius Files Form DFAN-14A on Zoran

Restoring Credibility and Enhancing Shareholder Value at Zoran Ramius Value and Opportunity Advisors LLC, together with the other participants in this solicitation (collectively, “Ramius”), beneficially owns an aggregate of 4,248,500 shares of common stock, or approximately 8.3% of the shares outstanding, of Zoran Corporation, making us one of Zoran’s largest shareholders. We believe Zoran’s shares…