Tripp Levy PLLC Investigates Proposed Acquisition of Protection One
26 Abril 2010 - 9:43AM
Business Wire
Tripp Levy PLLC announces an investigation into the proposed
acquisition of Protection One (Nasdaq: PONE). On April 26, 2010,
GTCR, a private equity firm, announced that it is proposing to
acquire all of the outstanding shares of common stock of PONE,
through a tender offer, for $15.50 per share in cash.
PONE’s two largest shareholders, Quadrangle Capital Partners and
Monarch Alternative Capital LP, who collectively own approx. 70% of
PONE’s outstanding shares, and, in effect, control the company,
have agreed to tender their shares into the tender offer.
The investigation concerns, among other things, whether the
consideration to be paid to PONE shareholders is grossly unfair,
inadequate, and substantially below the fair or inherent value of
PONE. The investigation further concerns whether the directors of
PONE may have breached their fiduciary duties by not acting in PONE
shareholders' best interests in connection with the sale process of
PONE.
If you own PONE 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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