Man Group, GLG Settle Shareholder Suit Over $2B Deal

Law360, New York (August 20, 2010, 4:21 PM EDT) -- Man Group PLC and GLG Partners LP said Friday they had amended the terms of their planned $1.6 billion merger in order to settle litigation by disgruntled GLG shareholders who argued the deal was unfairly preferential to the British investment management company.

Man Group and GLG reached the proposed settlement — which still needs the approval of the Delaware Chancery Court — without admitting any liability, Man Group said in a statement.

As a result of the deal, the Delaware lawsuit and two separate but related...
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