An investigation on behalf of investors of West Corp (NASDAQ:WSTC) in connection with the proposed takeover was announced and NASDAQ:WSTC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/17/2017 -- An investigation was announced for investors in NASDAQ:WSTC shares concerning the takeover of West Corp.
Investors who purchased shares of West Corp (NASDAQ:WSTC) and currently hold any of those NASDAQ:WSTC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of West Corp breached their fiduciary duties owed to NASDAQ:WSTC investors in connection with the proposed acquisition.
On May 09, 2017, West Corporation (Nasdaq:WSTC) announced it has entered into an agreement with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (the "Apollo funds") (together with its consolidated subsidiaries, "Apollo"), pursuant to which the Apollo funds will acquire all of the outstanding shares of West common stock for $23.50 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:WSTC shares at $29.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:WSTC stockholders.
In addition, given that certain West stockholders, including Thomas H. Lee Partners, L.P., Quadrangle Group LLC, Gary L. West and Mary E. West, who in the aggregate beneficially own approximately 45 percent of West's outstanding common stock, have already committed to vote in favor of the proposed transaction, subject to certain customary conditions, at a special meeting of West stockholders, the investigation concerns whether the West Corp 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 May 16, 2017, NASDAQ:WSTC shares closed at $23.12 per share.
Those who are current investors in West Corp shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com