Law360, New York (May 03, 2011, 3:58 PM ET) -- 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...
Savvis Investor Sues Over $2.5B CenturyLink Merger
To view the full article, take a free trial now.
