Kendall Law Group Investigates Protection One, Inc. for Shareholders
26 Abril 2010 - 11:59AM
Business Wire
Kendall Law Group, a national securities litigation firm, is
investigating Protection One, Inc. (NASDAQ:PONE) on behalf of
shareholders after the announcement of a merger agreement between
the Company and affiliates of GTCR. The firm is investigating
whether the Board of Directors breached their fiduciary duties by
not seeking a deal that would provide better value of the company
and whether a fair process was used in shopping the company prior
to entering into the agreement. Protection One shareholders, and
anyone else with knowledge of the transaction, are encouraged to
contact the Kendall Law Group by email at
skendall@kendalllawgroup.com or 877-744-3728.
On April 26, 2010, the companies announced that they had reached
an agreement for Protection One to be acquired and become a private
company, wholly owned by an affiliate of GTCR. The $828 million
transaction is expected to close in the second quarter of 2010.
According to the agreement, PONE shareholders will receive $15.50
in cash per share owned, which represents 13% over the closing
price on April 23, 2010. Affiliates of Quadrangle Group LLC and
Monarch Capital Partners, who hold approximately 70% of the
Protection One’s outstanding shares, have executed a tender and
support agreement, giving other shareholders very little say in the
matter.
Kendall Law Group was founded by a former federal judge, and
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in many merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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