An investigation for shareholders of Media General Inc (NYSE:MEG) in connection with the proposed takeover was announced and NYSE:MEG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/16/2015 -- An investigation on behalf of investors, who currently hold shares of Media General Inc (NYSE:MEG), was announced concerning whether the takeover of Media General Inc, formerly Mercury New Holdco, Inc, by Nexstar Broadcasting Group, Inc for $14.50 per share is unfair to NYSE:MEG stockholders.
Investors who purchased shares of Media General Inc (NYSE:MEG) and currently hold any of those NYSE:MEG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Media General Inc breached their fiduciary duties owed to NYSE:MEG investors in connection with the proposed acquisition.
On September 28, 2015 Media General Inc (NYSE:MEG) confirmed that it has received an unsolicited proposal from Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) to acquire all of the outstanding common stock of Media General for $14.50 per share in cash and stock, including $10.50 per share in cash and a fixed ratio of 0.0898 Nexstar shares per Media General share.
However, given that at least one analyst has set the high target price for NYSE:MEG shares at $20.00 per share, the investigation concerns whether the offer is unfair to NYSE:MEG stockholders. More specifically, the investigation concerns whether the Media General 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 November 13, 2015, NYSE:MEG shares closed at $15.46 per share.
Those who are current investors in Media General Inc (NYSE:MEG) 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