SAN DIEGO and BALTIMORE,
Sept. 3, 2015 /PRNewswire/
-- Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of Millennial Media Inc.
(NYSE: MM) by AOL. On September 3,
2015, the two companies announced the signing of a
definitive merger agreement pursuant to which AOL will acquire
Millennial Media. Under the terms of the agreement,
Millennial Media shareholders will receive $1.75 in cash for each share of Millennial Media
common stock.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/millenial-media-inc-september-2015
Is the Proposed Acquisition Best for Millennial Media and
Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at Millennial Media is undertaking a fair process to
obtain maximum value and adequately compensate its
shareholders.
As an initial matter, the $1.75
merger consideration represents a premium of only 4.2% based on
Millennial Media's closing price on August
3, 2015. This premium is significantly below the
average one-month premium of nearly 53% for comparable transactions
within the past year. Further, the $1.75 merger consideration is significantly below
the target price of $2.15 set by an
analyst at Canaccord Genuity on August
10, 2015. In the last three years, Millennial Media
traded as high as $16.86 on
November 6, 2012, and most recently
traded above the merger consideration – at $1.76 – on August 3,
2015.
Millennial Media shareholders have the option to file a class
action lawsuit to ensure the board of directors obtains the best
possible price for shareholders and the disclosure of material
information. Millennial Media shareholders interested in
information about their rights and potential remedies can contact
attorney Darnell R. Donahue at (800)
350-6003, ddonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law
firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1
billion of value for themselves and the companies in which
they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP