Outdoor Channel Investor Looks To Block $227M Takeover

Law360, Wilmington (March 18, 2013, 6:28 PM EDT) -- A Outdoor Channel Holdings Inc. investor launched a putative class action Monday that seeks to halt the recently announced $227 million takeover bid by sports mogul Stan Kroenke, claiming the board has now endorsed two inadequate offers for the hunting-and-fishing programmer.

Filed in Delaware Chancery Court by shareholder Roberta Feinstein, the complaint asserts that Outdoor Channel's board prevented a bidding war from developing by shunning potential suitors and prematurely accepting a poor offer from InterMedia Outdoors Holdings LLC in November.

While the directors announced March 13...
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