NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Savvis, Inc. (Nasdaq: SVVS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to CenturyLink, Inc. (NYSE: CTL). Under the terms of the proposed deal, Savvis shareholders will receive $30 per share in cash and 0.2905 of a share of CenturyLink common stock. The transaction value Savvis stock at approximately $40 per share, based on the prior closing price of CenturyLink stock, for a total transaction value of approximately $2.5 billion, including the assumption of approximately $700 million in debt.
The investigation concerns whether the Savvis Board of Directors breached their fiduciary duties to Savvis stockholders by failing to adequately shop the Company before entering into this transaction and whether CenturyLink, Inc. is underpaying for Savvis shares. According to Thomson/First Call, at least one analyst set a price target for Savvis stock at $46 per share.
If you own common stock in Savvis and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/savvis-svvs.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.