NYSE:GSAT Investor Alert: Investigation of Takeover of Globalstar, Inc
An investigation on behalf of investors of Globalstar, Inc. (NYSE: GSAT) in connection with the proposed takeover was announced and NYSE: GSAT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 05/01/2018 --An investigation was announced concerning whether the takeover of Globalstar, Inc is unfair to NYSE: GSAT stockholders.
Investors who purchased shares of Globalstar, Inc. (NYSE: GSAT) and currently hold any of those Globalstar, Inc. (NYSE: GSAT shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Globalstar, Inc. (NYSE: GSAT breached their fiduciary duties owed to Globalstar, Inc. (NYSE: GSAT investors in connection with the proposed acquisition.
Covington, LA based Globalstar, Inc. provides mobile satellite voice and data services worldwide. On April 25, 2018, Globalstar, Inc. (NYSE American: GSAT) announced it has signed a merger agreement with Thermo Acquisitions, Inc. pursuant to which the following assets will be combined with Globalstar: metro fiber provider FiberLight, LLC, 15.5 million shares of common stock of CenturyLink, Inc. (NYSE: CTL) (CenturyLink), $100 million of cash and minority investments in complementary businesses and assets of $25 million in exchange for Globalstar common stock valued at approximately $1.65 billion, subject to adjustments.
However, given that pursuant to the terms of the Merger Agreement, Thermo Acquisitions, Inc and its affiliates who own Globalstar common stock have already signed a voting agreement pursuant to which it and its affiliates have granted a proxy and/or agreed to vote in favor of the transaction at any meeting of stockholders, the investigation concerns whether the offer is unfair to Globalstar, Inc. (NYSE: GSAT stockholders. More specifically, the investigation concerns whether the Globalstar, Inc. (NYSE: GSAT 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 April 30, 2018, Globalstar, Inc. (NYSE: GSAT) shares closed at $0.6116 per share.
Those who are current investors in Globalstar, Inc. (NYSE: GSAT) shares have certain options and should contact the Shareholders Foundation.
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View this press release online at: http://rwire.com/971272