San Diego, CA -- (SBWIRE) -- 06/24/2014 -- An investigation on behalf of investors, who currently hold shares of TW Telecom Inc(NASDAQ:TWTC), was announced concerning whether the takeover of TW Telecom. by Level 3 Communications, Inc for a value of approximately $40.86 per share is unfair to TW Telecom Inc(NASDAQ:TWTC stockholders.
Investors who purchased shares of TW Telecom Inc(NASDAQ:TWTC) and currently hold any of those NASDAQ:TWTC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of TW Telecom Incbreached their fiduciary duties owed to NASDAQ:TWTC investors in connection with the proposed acquisition.
On June 16, 2014, Level 3 Communications, Inc. (NYSE: LVLT) and tw telecom (NASDAQ: TWTC) announced that they have entered into an agreement whereby Level 3 Communications, Inc. will acquire tw telecom in a stock-and-cash transaction valued at $40.86 per share based on market close as of June 13, 2014. Under the terms and subject to the conditions of the agreement, tw telecom stockholders will receive $10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock that is owned at closing.
However, given that at least one analyst has set the high target price for NASDAQ:TWTC shares at $45 per share, the investigation concerns whether the offer is unfair to NASDAQ:TWTC stockholders. More specifically, the investigation concerns whether the TW Telecom 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.
TW Telecom Inc reported that its annual Total Revenue rose from over $1.27 billion in 2010 to over $1.56 billion in 2013. Shares of TW Telecom Inc grew from $6.80 per share in March 2009 to as high as $36.75 per share on June 13, 2014.
On June 20, 2014, NASDAQ:TWTC shares closed at $40.83 per share.
Those who are current investors in TW Telecom Inc(NASDAQ:TWTC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego