San Diego, CA -- (SBWire) -- 08/13/2013 --An investor, who currently holds shares of Omnicom Group Inc. (NYSE:OMC), filed a lawsuit in effort to halt the proposed takeover of Omnicom Group Inc. by Publicis Groupe SA.
Investors who purchased shares of the Omnicom Group Inc. (NYSE:OMC) and currently hold any of those NYSE:OMC shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties by agreeing to sell Omnicom Group Inc. at an unfair price via an unfair process.
On July 28, 2013, Omnicom Group Inc. and Publicis Groupe SA had announced that they have signed an agreement for a merger of equals. Omnicom shareholders will receive 0.813 newly issued ordinary shares of Publicis Omnicom Group for each Omnicom share they own, together with a special dividend of $2.00 per share. In addition, Omnicom shareholders will receive up to two regular quarterly dividends of $0.40 per share if declared and the record date occurs prior to closing.
However, the plaintiff claims that the offer is unfair to NYSE:OMC investors and undervalues the company. Indeed, at least one analyst has set the high target price for NYSE:OMC shares at $75.00 per share. Omnicom Group Inc. reported that its annual Total Revenue rose from over $11.72 billion in 2009 to over $14.21 billion in 2012 and that its Net Income over those respective time periods increased from $7930 million to $998.30 million. Shares of Omnicom Group Inc. (NYSE:OMC) grew from $22.57 per share in March 2009 to as high as $66.34 per share on July 12, 2013.
Furthermore, the plaintiff alleges that the proposed transaction is the product of a flawed process on terms preferential to Publicis Groupe SA and designed to benefit certain insiders of Omnicom Group and Publicis Groupe SA, but detrimental to the plaintiff and the other public stockholders of Omnicom Group Inc.
On August 12, 2013, NYSE:OMC shares closed at $62.68 per share.
Those who are current investors in Omnicom Group Inc. (NYSE:OMC), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Omnicom Group Inc. (NYSE:OMC) Investor Lawsuit Against Takeover by Publicis Groupe SA Filed
A lawsuit was filed by an investor in shares of Omnicom Group Inc. (NYSE:OMC) in effort to block the proposed takeover and NYSE:OMC stockholders should contact the Shareholders Foundation.