SAN DIEGO and NEW YORK, June 22,
2015 /PRNewswire/ -- Shareholder rights attorneys at Robbins
Arroyo LLP are investigating the proposed acquisition of Martha
Stewart Living Omnimedia, Inc. (NYSE: MSO) by Sequential Brands
Group, Inc. (NASDAQ: SQBG). On June
22, 2015, the two companies announced the signing of a
definitive merger agreement pursuant to which Sequential Brands
will acquire Martha Stewart. Under the terms of the
agreement, Martha Stewart shareholders will receive consideration
equivalent to $6.15 for each share of
Martha Stewart common stock owned.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/martha-stewart-living-omnimedia-inc
Is the Proposed Acquisition Best for Martha Stewart and
Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at Martha Stewart is undertaking a fair process to
obtain maximum value and adequately compensate its
shareholders.
As an initial matter, the $6.15
merger consideration represents a premium of only 16.48% based on
Martha Stewart's closing price on May
19, 2015. This premium is significantly below the
average one-month premium of nearly 21.65% for comparable
transactions within the past five years. Further, the
$6.15 merger consideration is
significantly below the target price of $7.18 set by an analyst at FBN Securities on
March 6, 2015, and the target price
of $7.00 set by an analyst at Noble
Financial Group on October 16,
2014. In the last three years, Martha Stewart traded as high
as $6.72 on March 31, 2015, and most recently traded above
the target price – at $6.16 – on
April 15, 2015.
Martha Stewart shareholders have the option to file a class
action lawsuit to ensure the board of directors obtains the best
possible price for shareholders and the disclosure of material
information. Martha Stewart shareholders interested in
information about their rights and potential remedies can contact
attorney Darnell R. Donahue at (800)
350-6003, ddonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law
firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1
billion of value for themselves and the companies in which
they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
Logo -
http://photos.prnewswire.com/prnh/20130103/MM36754LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/robbins-arroyo-llp-acquisition-of-martha-stewart-living-omnimedia-inc-mso-by-sequential-brands-group-inc-sqbg-may-not-be-in-shareholders-best-interests-300102824.html
SOURCE Robbins Arroyo LLP
