Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Savvis, Inc.
19 Maggio 2011 - 10:04PM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
acquisition of Savvis, Inc. (NASDAQ: SVVS) (referred to as "Savvis"
or the “Company”) by CenturyLink, Inc. (“CenturyLink”) in a cash
and stock merger valued at approximately $2.5 billion, plus net
debt of approximately $0.7 billion which will be assumed or
refinanced at close.
Under the terms of the merger agreement, Savvis stockholders
will receive $30 per share in cash and $10 in shares of CenturyLink
common stock. The number of CenturyLink shares issued will be based
upon the volume-weighted average price of CenturyLink stock during
the thirty trading day period ending three trading days prior to
the closing, provided that if this average price is less than or
equal to $34.42, each Savvis share will receive $30 in cash and
0.2905 of a CenturyLink share.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders. If you are a holder of Savvis stock and want to
discuss your legal rights, you may e-mail or call Bull &
Lifshitz, LLP who will, without obligation or cost to you, attempt
to answer your questions.
If you are a shareholder of Savvis and would like more
information about our investigation, please contact Joshua M.
Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an
e-mail including your contact information to:
counsel@nyclasslaw.com. All e-mail correspondence should make
reference to Savvis.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please visit our website at www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2011 Bull & Lifshitz, LLP.
The law firm responsible for this advertisement is Bull &
Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212)
213-6222. Prior results do not guarantee or predict a similar
outcome with respect to any future matter.
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