Kendall Law Group Investigates M&F Worldwide Corporation
14 Junho 2011 - 2:33PM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating M&F Worldwide Corporation (NYSE: MFW) for
shareholders in connection with the proposed acquisition of the
company by MacAndrew & Forbes Holdings, Inc. (“MacAndrew”). The
national securities firm’s investigation seeks to determine whether
M&F and its Board breached their fiduciary duties related to an
offer by MacAndrew to enter into an agreement to take M&F
private without properly shopping for a deal that would provide the
best value for shareholders. If you are shareholder of M&F 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 June 13, 2011, it was announced that MacAndrew, which is
controlled by billionaire Ron Perelman, has made an offer to
acquire all outstanding shares of M&F for $24.00. MacAndrew
currently owns approximately 43% of M&F. While the offer price
is a premium over the closing price just before the deal was
announced, M&F stock closed higher than the offer price as
recently as May 5, 2011. After the announcement, M&F shares
shot up over 41% to close at $24.06 on Monday. Barrons.com
columnist, Andrew Bary, reported that “Wall Street seems to agree
that Perelman may have to increase his offer to win approval from a
special committee of independent directors and from half of the
public holders who now hold 57% of M&F stock.” The firm’s
investigation seeks to determine whether M&F and its Board is
undertaking a fair process in negotiating the proposed deal and if
the consideration being offered to shareholders is adequate.
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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