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GTEC Investor Sues Ares To Block $315M Takeover

Law360, New York (March 14, 2011, 9:22 PM EDT) -- A Global Defense Technology & Systems Inc. shareholder filed a proposed class action Friday to block Ares Management LLC affiliates' $315 million takeover of the defense contractor through a cash tender offer.

The merger agreement between GTEC and Ares announced March 3 prevented shareholders from benefiting from the defense contractor's recent growth, plaintiff Deepak Bhat alleged in his complaint against the company, its board and officers, and Ares affiliates Sentinel Acquisition Corp. and Sentinel Acquisition Holdings Inc. in the Delaware Court of Chancery.

Under the deal...
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