Kendall Law Group Investigates Emergency Medical Services Corporation Acquisition for Shareholders
15 February 2011 - 1:25AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Emergency Medical Services Corporation (NYSE: EMS)
for shareholders in connection with the proposed acquisition by an
affiliate of Clayton, Dubilier & Rice, LLC. The national
securities firm’s investigation seeks to determine whether
Emergency Medical Services Corporation and its Board breached their
fiduciary duties by entering into the agreement without properly
shopping for a deal that would provide better value for
shareholders. If you are an Emergency Medical Services Corporation
shareholder and would like additional information about your
rights, contact the Kendall Law Group at 877-744-3728 or by email
at skendall@kendalllawgroup.com.
On February 14, 2011, the companies announced the definitive
merger agreement under which Emergency Medical Services Corporation
would be acquired by the affiliate of Clayton, Dubilier & Rice,
in a transaction valued at approximately $3.2 billion, including
debt. Under the terms of the agreement, Emergency Medical Services
Corporation stockholders will receive $64.00 in cash for each share
of Emergency Medical Services Corporation/EMS Class A common stock,
Class B common stock and each LP Exchangeable Unit held. Onex
Corporation and its affiliates, holders of Emergency Medical
Services Corporation's LP Exchangeable Units, have agreed to vote
in favor of the merger agreement and have sufficient voting power
to approve the merger. According to Thompson/First Call, analysts
have set a price target as high as $76.00 per share for Emergency
Medical Services Corporation stock. EMS shares closed at $70.66 on
Friday. Due to these factors, the firm believes the transaction
significantly undervalues the company.
Kendall Law Group was founded by a former federal judge,
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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