San Diego, CA -- (SBWIRE) -- 02/20/2012 -- The Shareholders Foundation announces that according to a law firm investors in NASDAQ:SURW shares have certain options in the takeover attempt by Consolidated Communications Holdings.
Investors who are current investors in SureWest Communications (NASDAQ:SURW) shares and purchased your NASDAQ:SURW shares prior to the announcement should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The announcement by SureWest Communications that agreed to by acquired by Consolidated Communications Holdings for $23 per NASDAQ:SURW caused an investigation by a law firm concerning whether the offer to acquire SureWest Communications and the buyout process are unfair to investors in NASDAQ:SURW shares.
On Monday, February 6, 2012, SureWest Communications (Nasdaq: SURW) and Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) announced that they hae entered into an agreement under which Consolidated Communications Holdings will acquire all the outstanding shares of SureWest Communications in a cash and stock transaction valued at $23.00 per share, or a total of approximately $340.9 million, exclusive of debt.
SureWest Communications said the offer represents a 47% premium to SureWest's stock price as of the close on February 3, 2012.
However, SureWest Communications’ performance for its investors increased over the past years. SureWest Communications’ annual Revenue rose from $174.26million in 2007 to $243,50million in 2010 and its third quarter Revenue in 2011 increased from $61.12million in 2010 to $63.00million.
Therefore the investigation for NASDAQ:SURW investors concerns whether the SureWest Communications Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to SureWest Communications (NASDAQ:SURW) shareholders by failing to adequately shop the Company before entering into this transaction. A potential securities class action lawsuit would seek to maximize the amount of money and information NASDAQ:SURW shareholders would receive in a buyout, so the law firm.
Those who are current investors in SureWest Communications (NASDAQ:SURW) and purchased your SureWest Communications (SURW) 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