Harwood Feffer LLP Investigates Blackboard Inc.
July 05 2011 - 11:28AM
Business Wire
Harwood Feffer LLP (“Harwood Feffer”) is investigating
Blackboard Inc. (“Blackboard”) (NASDAQ: BBBB) in connection with
the proposed acquisition by an investor group led by affiliates of
Providence Equity Partners (“Providence”). Harwood Feffer seeks to
determine whether Blackboard 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
a Blackboard shareholder and would like additional information
about your rights, contact Harwood Feffer at the Harwood Feffer
website (http://hfesq.com) or toll free at (877) 935-7400.
On July 1, 2011, Blackboard announced a definitive merger
agreement under which it would be acquired by an investor group led
by affiliates of Providence, in a transaction valued at
approximately $1.64 billion. Under the terms of the agreement,
Blackboard shareholders will receive $45.00 in cash for each of
share of Blackboard common stock. The offer price represents a 3.7
percent premium to Blackboard’s closing price on Thursday, June 30,
2011. According to Thompson/First Call, analysts set a price target
as high as $55.00 per share for Blackboard’s stock. This firm’s
investigation seeks to determine whether Blackboard and its Board
undertook a fair process in negotiating the deal.
Harwood Feffer has been representing individual and
institutional investors for many years, serving as lead counsel in
numerous cases in federal and state courts. Please visit the
Harwood Feffer LLP website (http://www.hfesq.com) for more information about
the firm.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
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