The Law Office of Abe Shainberg is investigating the Board of Directors of Savvis, Inc. (Nasdaq: SVVS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to CenturyLink, Inc. (NYSE: CTL). Under the terms of the proposed transaction, Savvis shareholders will receive $30 per share in cash and 0.2905 of a share of CenturyLink common stock. Based on prior closing prices, the transaction values Savvis stock at approximately $40 per share for a total transaction value of approximately $2.5 billion, including assumption of debt.
The investigation concerns whether the Savvis Board of Directors breached their fiduciary duties to Savvis stockholders by failing to adequately shop the Company before entering into this transaction and whether CenturyLink, Inc. is underpaying for Savvis shares. According to Yahoo! Finance, at least one analyst set a price target for Savvis stock at $46 per share.
If you own common stock in Savvis and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at email@example.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/savvis-svvs.html.
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.