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Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Savvis, Inc. (NASDAQ: SVVS) (referred to as "Savvis" or the “Company”) by CenturyLink, Inc. (“CenturyLink”) in a cash and stock merger valued at approximately $2.5 billion, plus net debt of approximately $0.7 billion which will be assumed or refinanced at close.
Under the terms of the merger agreement, Savvis stockholders will receive $30 per share in cash and $10 in shares of CenturyLink common stock. The number of CenturyLink shares issued will be based upon the volume-weighted average price of CenturyLink stock during the thirty trading day period ending three trading days prior to the closing, provided that if this average price is less than or equal to $34.42, each Savvis share will receive $30 in cash and 0.2905 of a CenturyLink share.