Science & Technology
Wed, March 21, 2012
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating AboveNet Inc. (NYSE: ABVT) for shareholders in connection with the proposed acquisition by Zayo Group LLC. The national securities firmas investigation seeks to determine whether AboveNet and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an AboveNet shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ investor@kendalllawgroup.com ].
On March 19, 2012, the companies announced the definitive merger agreement under which AboveNet would be acquired by Zayo Group, in a transaction valued at approximately $2.2 billion. Under the terms of the agreement, AboveNet stockholders will receive $84.00 in cash for each share of AboveNet/ABVT common stock held. The $84.00 offer represents a 13 percent premium to AboveNet's closing price on Friday and shares of AboveNet rose 14 percent to $84.45 in early trading. The firmas investigation seeks to determine whether AboveNet and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
