Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Metavante Technologies, Inc. Takeover Investor LawsuitsClass action lawsuits on behalf of certain investors in Metavante Technologies, Inc. over alleged breach of fiduciary duty by the board of MV – Contact the Shareholders Foundation, Inc at mail@shareholdersfoundation.com
By: Shareholders Foundation, Inc. If you currently hold Metavante Technologies, Inc. shares you have certain options and you should contact the Shareholders Foundation, Inc. immediately! Email: mail@shareholdersfoundation.com Or call us at: +1 (858) 779 - 1554 Fidelity National Information Services, Inc. and Metavante Technologies, Inc. announced on April 10, 2009 that the boards of directors of both companies have approved a definitive agreement under which FIS will acquire Metavante. Under the terms of the proposed agreement, Metavante shareholders will receive a fixed exchange ratio of 1.35 shares of FIS common stock for each share of Metavante common stock they own. The pro forma enterprise value of the combined company would be approximately $10 billion. Shares of Fidelity closed the following Tuesday at $18.20, up 2%, while shares of Metavante were up 2.8% to close at $19.96. With a fixed exchange rate of 1.35, shareholders of Metavante Technologies, Inc. would get $24.57 per MV share they own. According to the lawsuit the sale price does not take into account Metavante Technologies true value or the company's growth and revenue prospects. According to the lawsuit in its first full year as a public company Metavante’s revenue grew by nearly 50% to more than $1.7 billion and net income grew to over $147 million. The suit complains that the Metavante board did not tell shareholders about the potential deal with Fidelity National until the sale was announced, despite months of negotiations. Metavante Technologies, Inc., owns and operates Metavante Corporation. Metavante delivers banking and payments technologies to financial services firms and businesses worldwide. Metavante is located in Milwaukee, WI and had $1.707billion in total revenue in 2008 and $1.598billion in 2007 with a net income of $147.35million in 2008 and $49.45million in 2007. The shares of Metavante Technologies closed on Monday, April 27,2009 with $24.79 per share. If you currently hold Metavante Technologies, Inc. shares you have certain options and you should contact the Shareholders Foundation, Inc. immediately! Email: mail@shareholdersfoundation.com Or call us at: +1 (858) 779 - 1554 Shareholders Foundation, Inc. Trevor Allen 3111 Camino Del Rio North - Suite 423 - 92108 San Diego Tel:+1-(858)- Fax:+1-(858)- mail@shareholdersfoundation.com www.ShareholdersFoundation.com ____________________________________________________________ # # # Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|