Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Virgin Media`s Proposed Acquisition by Liberty Global, Inc.
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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 (email@example.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 firstname.lastname@example.org Copyright Business Wire 2013
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