Kendall Law Group Investigates Central Vermont Public Service Acquisition
June 02 2011 - 4:34PM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Central Vermont Public Service (NYSE: CV) for
shareholders in connection with the proposed acquisition by Fortis
Inc. The national securities firm’s investigation seeks to
determine whether Central Vermont 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 Central Vermont Public Service
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 May 30, 2011, the companies announced the definitive merger
agreement under which Central Vermont Public Service would be
acquired by Fortis Inc. in a transaction valued at approximately
$700 million. Under the terms of the agreement, Central Vermont
stockholders will receive $35.10 in cash for each share of common
stock held. Since the company reported higher profits in recent
financial statements, the investigation seeks to determine if the
consideration agreed upon adequately compensates shareholders.
Additionally, the firm questions if a $19 million termination fee
and other provisions of the merger may dissuade superior competing
bids.
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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