MURRAY FRANK LLP Investigates SureWest Communications
07 Fevereiro 2012 - 8:47PM
Business Wire
MURRAY FRANK LLP is investigating breaches of fiduciary duties
by certain members of the Board of Directors of SureWest
Communications (NASDAQ: SURW) (“SureWest” or the “Company”)
regarding the acquisition of the Company by Consolidated
Communications, Inc. (“Consolidated Communications”) in a
transaction valued at approximately $340.9 million.
On February 6, 2012, SureWest and Consolidated Communications
announced that they had entered into a definitive merger agreement.
Under the terms of the proposed transaction, SureWest shareholders
may elect to exchange each share of SureWest common stock they own
for either $23.00 in cash or shares of Consolidated common stock
having an equivalent value based on average trading prices for the
20-day period ending two days before the closing of the
acquisition, subject to certain restrictions. Overall elections are
subject to proration such that 50 percent of the SureWest shares
will be exchanged for cash and 50 percent for stock.
The investigation seeks to determine whether SureWest’s Board of
Directors breached their fiduciary duties in connection with their
efforts to sell SureWest to Consolidated Communications at an
inadequate price through an unfair process which significantly
undervalues the Company.
If you are a current investor in SureWest who purchased SureWest
shares before February 6, 2012, and you wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests with respect to these matters, please contact
Katherine E. Smith at (800) 497-8076 or (212) 682-1818, or by email
at investigations@murrayfrank.com.
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