Kendall Law Group, led by former federal judge Joe Kendall, is investigating Savvis Inc. (NASDAQ: SVVS) for shareholders in connection with the proposed acquisition by CenturyLink Inc. The national securities firm’s investigation seeks to determine whether Savvis and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Savvis shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On April 27, 2011, the companies announced the definitive merger agreement under which Savvis would be acquired by CenturyLink, in a transaction valued at approximately $2.5 billion. Under the terms of the agreement, Savvis stockholders will receive $30 a share in cash and $10 in CenturyLink stock (NYSE: CTL) for each share of Savvis/SVVS common stock held. According to Thompson/First Call, analysts have set a price target as high as $46.00 per share for Savvis stock. The offer price represents a 11% premium over Savvis stock’s Tuesday closing price. The firm’s investigation seeks to determine whether Savvis and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.