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June 13, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Belo Corporation ("Belo" or the "Company") (NYSE: BLC) (ISIN: US0805551050) (CUSIP: 080555105) concerning the proposed acquisition of Belo by Gannett Co., Inc. in a transaction valued at approximately
$1.5 billion, plus the assumption of
$715 million in existing debt for an enterprise value of approximately
The investigation concerns whether the Belo directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Belo shareholders will be entitled to receive
$13.75 per share in cash for each share of Belo common stock. However, the price to EBITDA and Revenue multiples are below the average of comparable transactions. In addition, synergies may not be fully reflected in purchase price.
Belo shareholders seeking more information about this acquisition are advised to contact
Robert Willoughby at
firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Hilltop Community Bancorp, Inc., Dole Food Company, Inc., Centerline Holding Company, and Cooper Tire & Rubber Company.
The Pomerantz Firm, with offices in
San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See
CONTACT: Robert WilloughbyPomerantz Grossman Hufford Dahlstrom & Gross LLP 212-661-1100 ext. 237