Kendall Law Group Investigates Blackboard Inc.
01 Luglio 2011 - 3:42PM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Blackboard Inc. (NASDAQ:BBBB) for shareholders in
connection with the proposed acquisition by an investor group led
by affiliates of Providence Equity Partners. The national
securities firm’s investigation seeks to determine whether
Blackboard and its Board breached their fiduciary duties by
entering into the agreement without properly shopping for a deal
that would provide better value for shareholders. If you are a
Blackboard shareholder and would like additional information about
your rights, contact the Kendall Law Group at 877-744-3728 or by
email at skendall@kendalllawgroup.com.
On July 1, 2011, Blackboard announced the definitive merger
agreement under which the company would be acquired by an investor
group led by affiliates of Providence Equity Partners, in a
transaction valued at approximately $1.64 billion. Under the terms
of the agreement, Blackboard stockholders will receive $45.00 in
cash for each share of Blackboard/BBBB common stock held. The offer
price represents a 3.7 percent premium to Blackboard’s closing
price on Thursday. According to Thompson/First Call, analysts have
set a price target as high as $55.00 per share for Blackboard’s
stock. The firm’s investigation seeks to determine whether
Blackboard and its Board undertook a fair process in negotiating
the deal.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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