Savvis Investor Sues Over $2.5B CenturyLink Merger

Law360, New York (May 3, 2011, 3:58 PM EDT) -- A Savvis Inc. shareholder filed a class action in Delaware state court Monday alleging the cloud computing company's $2.5 billion sale to CenturyLink Inc. was riddled with conflicts of interest and undervalued the company.

Savvis stockholder Hilary Kramer alleged in a suit filed in Delaware Chancery Court that the $40 per share offer only represented an 11 percent premium on Savvis' stock price and that private equity firm Welsh Carson Anderson & Stowe, which owns a controlling stake in the company, entered into the sale for...
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