NetSpend Investors Can’t Block $1.4B Sale Over PE Favoritism

Law360, New York (May 21, 2013, 9:20 PM EDT) -- A Delaware Chancery judge on Tuesday denied a bid by NetSpend Corp. shareholders to block the prepaid debit card provider’s planned $1.4 billion sale for allegedly favoring two private equity shareholders, ruling the investors hadn’t shown they could scuttle the deal at trial.

Vice Chancellor Sam Glasscock III also nixed the motion to enjoin the sale to debit card processor Total System Services Inc., expected to close on May 31, because with no other bidder on the horizon, stopping the transaction could rob shareholders of a...
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