EasyLink Services International Corp. (NASDAQ:ESIC) Stockholder Alert: Merger Under Investigation
An investigation on behalf of investors of EasyLink Services International Corp. (NASDAQ:ESIC) in connection with the takeover was announced and NASDAQ:ESIC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 05/07/2012 --An investigation on behalf of investors in NASDAQ:ESIC shares concerning whether the offer by OpenText Corporation to acquire EasyLink Services International Corp. at $7.25 per share and the takeover process are unfair to investors in NASDAQ:ESIC was announced.
Investors who purchased shares of EasyLink Services International Corp. (NASDAQ:ESIC) prior to May 1, 2012 and currently hold any of those NASDAQ:ESIC shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether certain officers and directors of EasyLink Services International Corp. breached their fiduciary duties owed to NASDAQ:ESIC investors in connection with the proposed acquisition.
On May 1, 2012, EasyLink Services International Corporation (Nasdaq:ESIC) announced it has entered into a definitive agreement and plan of merger with OpenTextTM Corporation (Nasdaq:OTEX) (TSX:OTC). Under the terms of the proposed transaction, OpenText will acquire all of the outstanding common stock of EasyLink Services International for $7.25 per share in cash for each share of common stock of EasyLink Services International.
However, at least one analyst has set the high target price for NASDAQ:ESIC shares at $8.00 per share.
Additionally, EasyLink Services’ financial performance improved lately. Its Total Revenue rose from $81.44million for a 12months period ending on July 31, 2010 to $164.77million for the 12months period ending on July 31, 2011 and its Net Income increased over the respective time periods from $17.09million to $24.70million.
Therefore the investigation for NASDAQ:ESIC investors concerns whether the proposed transaction is unfair to EasyLink Services International stockholders. Specifically, the investigation focuses on whether the EasyLink Services International 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.
Those who are current investors in EasyLink Services International Corp. (NASDAQ:ESIC) and purchased their NASDAQ:ESIC shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
Media Relations Contact
Shareholders Foundation, Inc.
View this press release online at: http://rwire.com/140960