Kendall Law Group is investigating Internet Brands for shareholders in connection with the proposed acquisition by an affiliate of Hellman & Friedman Capital Partners VI, L.P. The national securities litigation firm is investigating whether a fair process was used prior to entering into the merger agreement and whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value of the Company.
On September 20, 2010, the companies announced the definitive merger agreement under which Internet Brands would be acquired by an affiliate of Hellman & Friedman in a transaction valued at approximately $640 million. Under the terms of the agreement, Internet Brands stockholders will receive $13.35 in cash for each outstanding share of Internet Brands/INET common stock held. While this offer represents a 46.5% premium over the closing price on September 17, 2010, Internet Brands stock was trading for close to $11.00 per share earlier this month. The firm believes that transaction may be significantly undervaluing the company.
USA, Dallas, TX
- Internet Brands to be acquired by PE firm Hellman & Friedman for $640 million Posted on September 21, 2010
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- Internet Brands acquires online professional directory network ExpertHub Posted on April 28, 2010
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