Kendall Law Group Investigates Thomas Weisel Partners Group, Inc. for Shareholders
April 26 2010 - 1:23PM
Business Wire
Kendall Law Group is investigating Thomas Weisel Partners Group,
Inc. (NASDAQ:TWPG) on behalf of shareholders after the announcement
of a strategic merger agreement between Thomas Weisel and Stifel
Financial Corp. The national securities litigation firm is
investigating the transaction to determine if a fair process was
used in shopping the company prior to entering into the agreement
and whether the Board of Directors had breached their fiduciary
duties by not seeking a deal that would provide better value of the
company. TWPG shareholders, and anyone else with knowledge of the
transaction, are encouraged to contact the Kendall Law Group by
email at skendall@kendalllawgroup.com or 877-744-3728.
On April 26, 2010, the companies announced that they had reached
an agreement for Thomas Weisel to be acquired and become a
subsidiary of Stifel, which is expected to have a $1.6 billion
annual revenue. The $300 million transaction is expected to close
on or about June 30, 2010 and includes a $10 million termination
fee under certain circumstances. According to the agreement, Thomas
Weisel shareholders will receive 0.1364 Stifel stock in exchange
for each TWPG share. Based on the closing price of Stifel on April
23, 2010, this values shares at approximately $7.60. Mr. Weisel
will become Co-Chairman of the Board of the merged company.
Kendall Law Group was founded by a former federal judge, and
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in many merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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