San Diego, CA -- (SBWire) -- 09/28/2015 --An investigation for shareholders in shares of Premiere Global Services, Inc. (NYSE:PGI) was announced concerning whether the takeover of Premiere Global Services, Inc. by funds managed or advised by Siris Capital Group, LLC for $14.00 per share is unfair to NYSE:PGI stockholders.
On September 10, 2015, Premiere Global Services, Inc. (NYSE:PGI) announced that it has entered into an agreement to be acquired by funds managed or advised by Siris Capital Group, LLC in a transaction valued at approximately $1 billion.
Investors who purchased shares of Premiere Global Services, Inc. (NYSE:PGI) and currently hold any of those NYSE:PGI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Premiere Global Services, Inc. breached their fiduciary duties owed to NYSE:PGI investors in connection with the proposed acquisition.
Under the terms of the agreement, Siris Capital Group, LLC will acquire all of the outstanding common stock of Premiere Global Services, Inc. (NYSE:PGI) for $14.00 per share in cash, representing a premium of approximately 23 percent over the closing price on September 10, 2015, and approximately 32 percent over Premiere Global Services, Inc's volume-weighted average share price during the 90 days ended September 10, 2015.
However, the investigation concerns whether the offer is unfair to NYSE:PGI stockholders. More specifically, the investigation concerns whether the Premiere Global Services Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On September 25, 2015, NYSE:PGI shares closed at $13.57 per share.
Those who are current investors in Premiere Global Services, Inc. (NYSE:PGI) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Premiere Global Services, Inc. (NYSE:PGI) Shareholder Alert: Buyout Faces Investigation
An investigation on behalf of investors of Premiere Global Services, Inc. (NYSE:PGI) in connection with the proposed takeover was announced and NYSE:PGI stockholders should contact the Shareholders Foundation.