Sports & Competition
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Paetec Holding Corp. (NASDAQ: PAET) for shareholders in connection with the proposed acquisition by Windstream Corp. The national securities firma™s investigation seeks to determine whether Paetec 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 Paetec 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 August 1, 2011, the companies announced the definitive merger agreement under which Paetec would be acquired by Windstream, in a transaction valued at approximately $891 million. Under the terms of the agreement, Paetec stockholders will receive 0.46 of a Windstream share (NASDAQ: WIN) for each share of Paetec/PAET common stock held. The deal values Paetec stock at $5.62 a share, which represents 27% premium to Friday's close. Additionally, according to Thompson/First Call, analysts have set a price target as high as $7.00 per share for Paeteca™s stock. The firma™s investigation seeks to determine whether Paetec 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.