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Harwood Feffer LLP (
www.hfesq.com) is investigating potential claims against the board of directors of Savvis Inc. ("Savvis" or the "Company") (NASDAQ: SVVS - News) concerning the proposed acquisition of the Company by CenturyLink Inc. (“CenturyLink”) in a transaction valued at approximately $2.5 billion.
On April 27, 2011, it was announced that CenturyLink agreed to buy Savvis in a deal which values the Company at $40 per share. Savvis stockholders would receive $30 per share in cash and $10 per share in stock. CenturyLink is also assuming approximately $700 of Savvis’ debt. Analysts have set price targets as high as $46.00 per share for Savvis stock. Our investigation concerns the board of directors’ process for consideration of the proposed transaction.