Tripp Levy PLLC announces an investigation into the proposed acquisition of Interactive Data Corp. (NYSE: IDC). On May 4, 2010, IDC announced that it has entered into a merger agreement with investment funds Warburg Pincus and Silver Lake. Under the agreement, IDC stockholders will receive $33.86 in cash for each share of IDC common stock they own.
However, Warburg Pincus and Silver Lake may be underpaying for IDC, thus unlawfully harming IDC shareholders. IDC’s management team will continue to lead the company following the transaction. In addition, Pearson plc, the company’s majority holder with over 60%, has executed a written consent to approve the transaction, thereby providing the required stockholder approval for this transaction. No further action by non-Pearson stockholders is required to approve this transaction.
The investigation concerns, among other things, whether the consideration to be paid to IDC shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of IDC. The investigation further concerns whether the directors of IDC may have breached their fiduciary duties by not acting in IDC shareholders' best interests in connection with the sale process of IDC.
If you own IDC 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: