Kendall Law Group Investigates Del Monte Foods Co. Acquisition for Shareholders
27 November 2010 - 1:41AM
Business Wire
Kendall Law Group, a national securities firm led by a former
federal judge, is investigating Del Monte Foods Co. (NYSE:DLM) for
shareholders in connection with the proposed acquisition by
Kohlberg Kravis Roberts, Vestar Capital Partners and Centerview
Partners. The firm is investigating whether Del Monte properly
shopped the Company prior to entering into the agreement. This
possible breach of fiduciary duty may have kept the Company from
reaching a deal that would provide better value of the Company. If
you are a Del Monte shareholder and would like additional
information about your rights, you are encouraged to contact the
Kendall Law Group at 877-744-3728, or by email at
skendall@kendalllawgroup.com.
On November 25, 2010, Del Monte announced the definitive merger
agreement under which Del Monte would be acquired by Kohlberg
Kravis Roberts, Vestar Capital Partners and Centerview Partners in
a transaction valued at approximately $4 billion. Under the terms
of the agreement, Del Monte/DLM shareholders would receive $19.00
per share for each share of common stock held. According to
Thompson/First Call, at least one analyst has set a price target of
$22.00 per share for Del Monte stock. The firm believes the
transaction may be undervaluing the company.
Kendall Law Group was founded by former federal judge Joe
Kendall, includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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