Investor Alert: TNS, Inc. (NYSE:TNS) Takeover Under Investigation
An investigation on behalf of investors of TNS, Inc. (NYSE:TNS) in connection with the proposed takeover was announced and NYSE:TNS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 12/17/2012 --An investigation on behalf of investors in TNS, Inc. (NYSE:TNS) shares was announced concerning whether the offer by an investor group led by Siris Capital Group to acquire TNS, Inc. for $21.00 per NYSE:TNS share and the takeover process are unfair to investors in TNS shares.
Investors who purchased shares of TNS, Inc. (NYSE:TNS) prior to November 8, 2012, and currently hold any of those NYSE:TNS shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of TNS, Inc. breached their fiduciary duties owed NYSE:TNS investors in connection with the proposed acquisition.
On Dec. 11, 2012, TNS, Inc. (NYSE: TNS) announced that it has entered into a merger agreement to be acquired by an investor group led by Siris Capital Group in a transaction valued at approximately $862 million.
The investor group led by Siris Capital Group will acquire all of the outstanding common shares of TNS, Inc. (NYSE:TNS) for $21.00 per share in cash.
TNS, Inc. said the offer represents a premium of approximately 44% over the closing price on December 10, 2012 and 47% over TNS, Inc's volume weighted average share price during the 30 days ended December 10, 2012.
However, at least one analyst has set the high target price for NYSE:TNS shares at $27.50 per share and NYSE:TNS shares traded as recently as April 2012 as high as $22.46 per share, both prices are well above the current offer.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to TNS, Inc. (NYSE:TNS stockholders.
Furthermore, TNS, Inc. (NYSE:TNS) reported that its annual Revenue rose from $343.99 million in 2008 to $557.72 million in 2011 and its Net Income increased from $3.48 million in 2008 to $17.07 million in 2011.
Specifically, the investigation focuses on whether the TNS, Inc. (NYSE:TNS 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 TNS, Inc. (NYSE:TNS), 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
Media and Client Relations Manager
Shareholders Foundation, Inc
View this press release online at: http://rwire.com/188598