The Shuman Law Firm Investigates Health Grades, Inc.
August 03 2010 - 2:33PM
Business Wire
The Shuman Law Firm today announced that it is investigating
potential claims against the board of directors of Health Grades,
Inc. (“Health Grades” or the “Company”) (NASDAQ: HGRD) related to
the Company’s agreement to be acquired by private equity firm
Vestar Capital Partners V, L.P. (“Vestar”). The proposed all-cash
transaction is valued at approximately $294 million.
Under the terms of the agreement entered into by the parties, a
subsidiary of Vestar will commence a tender offer no later than
August 10, 2010, to acquire all of the outstanding shares of Health
Grades for $8.20 per share in cash. Certain executive officers of
Health Grades who beneficially own approximately 21% of Health
Grades’ fully diluted shares have entered into agreements to
support the transaction and to tender or otherwise sell shares to
Vestar’s affiliate. Upon completion of the tender offer, the Vestar
subsidiary will acquire all of the remaining publicly held shares
of Health Grades at $8.20 per share through a second-step merger.
The investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the proposed
transaction by Health Grades’ board of directors.
If you currently own shares of Health Grades and are interested
in discussing your rights as a Health Grades shareholder, or have
information relating to this investigation, please contact Rusty E.
Glenn toll free at (866) 974-8626 or email Mr. Glenn at
rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in securities class actions and
shareholder derivative actions.
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