An investigation for shareholders of Journal Media Group Inc (NYSE:JMG) in connection with the proposed takeover was announced and NYSE:JMG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/28/2015 -- An investigation on behalf of investors, who currently hold shares of Journal Media Group Inc (NYSE:JMG), was announced concerning whether the takeover of Journal Media Group Inc by Gannett Co., Inc. for $12.00 per share is unfair to NYSE:JMG stockholders.
Investors who purchased shares of Journal Media Group Inc (NYSE:JMG) and currently hold any of those NYSE:JMG 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 Journal Media Group Inc breached their fiduciary duties owed to NYSE:JMG investors in connection with the proposed acquisition.
On October 7, 2015 Gannett Co., Inc. (NYSE: GCI) and Journal Media Group Inc (NYSE:JMG)announced that they have entered into a merger agreement under which Gannett will acquire all of the outstanding common stock of Journal Media Group Inc (NYSE:JMG) for approximately $280 million, net of acquired cash. Under the terms of the transaction, which was approved by the boards of directors of both companies and is subject to Journal Media Group Inc (NYSE:JMG) shareholder approval, Journal Media Group Inc (NYSE:JMG) shareholders will receive cash of $12.00 per share in cash.
However, the investigation concerns whether the offer is unfair to NYSE:JMG stockholders. More specifically, the investigation concerns whether the Journal Media Group 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.
Shares of Journal Media Group Inc (NYSE:JMG) closed on October 27, 2015, at $12.04 per share.
Those who are current investors in NYSE:JMG 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