Buyout Of Globecomm - Law Firm Seeks Higher Price For Shareholders
NEW YORK, Aug. 26, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm, announces that it is investigating the acquisition of Globecomm Systems Inc. Globecomm Systems Inc. (Nasdaq: GCOM), announced today that an affiliate of Wasserstein & Co. has entered into a definitive agreement to acquire Globecomm for $14.15 per share in cash.
The investigation concerns whether the board of directors of GCOM breached their fiduciary duties by not engaging in a full and fair auction for the company to allow GCOM shareholders to obtain the maximum value for their shares. Indeed, analysts have projected that the true inherent value of the company is worth at least $18 per share. Further, GCOM's book value is approx. $9.90 per share making the offer just around 1.5x book.
If you are a shareholder of GCOM and would like additional information regarding this matter at no cost or expense please contact us at:
Tripp Levy PLLC
Toll Free: 1-877-772-3975
SOURCE Tripp Levy PLLC