Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Virgin Media`s Proposed Acquisition by Liberty Global, Inc.

Tue Feb 5, 2013 10:25pm EST

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130206:nBw057088a

SAN DIEGO--(Business Wire)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether
members of the board of directors of Virgin Media, Inc. (NasdaqGS: VMED)
breached their fiduciary duties in connection with the proposed acquisition by
Liberty Global, Inc. 

On February 5, 2013, Liberty Global announced that it had entered into a
definitive merger agreement to acquire all outstanding shares of VMED in a stock
and cash transaction. Under the terms of the agreement, Virgin Media
shareholders will receive $17.50 in cash, 0.2582 Liberty Global Series A shares
and 0.1928 Liberty Global Series C shares for each Virgin Media share that they
hold. Based on Liberty Global`s Series A share price of $69.46 and Series C
share price of $64.50 as of February 4, 2013, this implies a price of $47.87 per
Virgin Media share; based upon the closing price on February 4, 2013. 

The investigation will determine whether Virgin Media`s board of directors
breached their fiduciary duties to stockholders by failing to satisfactorily
shop the company before entering into this agreement. Jim Baker, lead analyst
for Johnson & Weaver, stated that, "Liberty Global`s offer appears to be
inadequate and not in the best interest of Virgin Media`s shareholders." In
particular, Baker noted that Virgin Media`s results over recent years have
demonstrated their ability to grow revenue, control costs, and generate cash. 

If you are a Virgin Media, Inc. shareholder and are interested in learning more
about the investigation or your legal rights and remedies, please contact lead
analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063 Ext. 118. 

Johnson & Weaver, LLP is a nationally recognized shareholders` rights law firm.
The firm represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information about the
firm and its attorneys, please visit http://www.johnsonandweaver.com.

Johnson & Weaver, LLP
Jim Baker, 619-230-0063 Ext. 118
jimb@johnsonandweaver.com



Copyright Business Wire 2013

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.