AsiaInfo-Linkage, Inc. (ASIA) Investor Lawsuit Against Takeover by CITIC Capital Holdings Ltd Announced by Shareholders Foundation
(firmenpresse) - SAN DIEGO, CA -- (Marketwired) -- 05/28/13 -- The Shareholders Foundation, Inc. announces that an investor who holds AsiaInfo-Linkage, Inc. (ASIA) shares filed a lawsuit to stop the proposed takeover of AsiaInfo-Linkage, Inc. by CITIC Capital Holdings Ltd for $12.00 per share.
Investors who purchased shares of AsiaInfo-Linkage, Inc. (ASIA) prior to May 13, 2013 and currently hold any of those ASIA shares, have certain options and should contact the Shareholders Foundation, Inc. at or call +1 (858) 779-1554.
On May 13, 2013, AsiaInfo-Linkage, Inc. and CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Ltd. announced the signing of a merger agreement under which AsiaInfo-Linkage will be acquired by a private investor consortium led by CITIC Capital Partners. Under the terms of the merger agreement, upon completion of the acquisition the stockholders of AsiaInfo-Linkage will receive US$12.00 in cash for each AsiaInfo-Linkage share of common stock they hold.
However, the plaintiff alleges that the defendants allegedly breached their fiduciary duties owed to ASIA stockholders by agreeing to sell the company too cheaply via an unfair process. The plaintiff claims that the $12.00-offer is too low and undervalues the company. Indeed, ASIA shares traded in 2012 as high as $13.75 and in 2011 as high as $22.65, and that at least one analyst has set the high target price at $16.00 per share.
The plaintiff seeks to stop the buyout under the present terms.
On May 24, 2013, ASIA shares closed at $11.50.
Those who currently are investors in AsiaInfo-Linkage, Inc. shares and purchased the AsiaInfo-Linkage shares before the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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Datum: 28.05.2013 - 13:35 Uhr
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