Kendall Law Group Investigates SRA International, Inc. Acquisition for Shareholders
April 01 2011 - 10:10AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating SRA International, Inc. (NYSE: SRX) for shareholders
in connection with the proposed acquisition by an affiliate of
Providence Equity Partners. The national securities firm’s
investigation seeks to determine whether SRA International 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 SRA International
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 April 1, 2011, SRA International announced the definitive
merger agreement under which SRA International would be acquired by
an affiliate of Providence Equity Partners, in a transaction valued
at approximately $1.88 billion. Under the terms of the agreement,
SRA International stockholders will receive $31.25 in cash for each
share of SRA International/SRX common stock held. The offer price
represents a 10.2% premium based on the March 31, 2011 closing
price of $28.36. On March 9, 2011, Reuters reported that at least
two other private equity firms, Veritas Capital and General
Atlantic, were still showing interest in acquiring SRA
International. The firm’s investigation seeks to determine whether
SRA International and its Board undertook a fair process in
negotiating the deal.
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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