NEW YORK, April 26, 2018 /PRNewswire/ -- Tripp Levy
PLLC, a leading national securities and shareholder rights law
firm, announces that it is investigating the potential sale of
Globalstar, Inc. (NYSE: GSAT) ("Globalstar" or the "Company") on
behalf of its shareholders. Globalstar announced that it has
entered into a definitive agreement with Thermo Acquisitions, Inc.
pursuant to which the following assets will be combined with
Globalstar: metro fiber provider FiberLight, LLC (FiberLight), 15.5
million shares of common stock of CenturyLink, Inc. (NYSE: CTL)
(CenturyLink), $100 million of cash
and minority investments in complementary businesses and assets of
$25 million in exchange for
Globalstar common stock valued at approximately $1.65 billion, subject to adjustments. Thermo
Acquisition, Inc. is controlled by Jay
Monroe, Executive Chairman of the Board of Directors and
Chief Executive Officer of Globalstar.
Our investigation has determined that the deal valued at
$1.65 billion unfairly under-values
the true going forward inherent value of Globalstar and that
shareholders may not be receiving the maximum value for their
shares. The investigation further seeks to determine
whether Globalstar's senior management is entering into this deal
for their own self-interests to the detriment of the Company's
shareholders.
If you are a shareholder of Globalstar and would like additional
information as to how the proposed acquisition may affect your
rights as a shareholder, and how you may be eligible to obtain a
higher price for your shares at no cost, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional
shareholders in mergers and acquisitions transactions and has
assisted in the recovery of billions of dollars for shareholders in
securities actions around the globe.
Attorney advertising. Prior results do not indicate a
similar outcome.
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