Pension Fund Seeks To Block CyberSource-Visa Deal

Law360, New York (May 5, 2010, 7:40 PM EDT) -- A union pension fund has sued CyberSource Corp. and Visa Inc., saying the planned $2 billion merger between the companies “undervalues” CyberSource's “true worth” and should be blocked.

The purported class action complaint, filed Tuesday in the Delaware Chancery Court by the Inter-Local Pension Fund of the Graphic Communications Conference of the International Brotherhood of Teamsters, claims that CyberSource's officers and directors did not conduct a sales process that maximized shareholder value.

The deal also does not take into account the company's growth potential or valuable...
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