Tripp Levy PLLC Investigates Proposed Acquisition of Interactive Data
May 05 2010 - 12:49PM
Business Wire
Tripp Levy PLLC announces an investigation into the proposed
acquisition of Interactive Data Corp. (NYSE: IDC). On May 4, 2010,
IDC announced that it has entered into a merger agreement with
investment funds Warburg Pincus and Silver Lake. Under the
agreement, IDC stockholders will receive $33.86 in cash for each
share of IDC common stock they own.
However, Warburg Pincus and Silver Lake may be underpaying for
IDC, thus unlawfully harming IDC shareholders. IDC’s management
team will continue to lead the company following the transaction.
In addition, Pearson plc, the company’s majority holder with over
60%, has executed a written consent to approve the transaction,
thereby providing the required stockholder approval for this
transaction. No further action by non-Pearson stockholders is
required to approve this transaction.
The investigation concerns, among other things, whether the
consideration to be paid to IDC shareholders is grossly unfair,
inadequate, and substantially below the fair or inherent value of
IDC. The investigation further concerns whether the directors of
IDC may have breached their fiduciary duties by not acting in IDC
shareholders' best interests in connection with the sale process of
IDC.
If you own IDC common stock and you wish to discuss this matter
with us, or have any questions concerning your rights and interests
with regard to this matter, please contact:
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