Investor Deal Over Michael Baker's $397M Sale Approved

Law360, Los Angeles (March 3, 2014, 9:55 PM EST) -- A Pennsylvania federal judge granted preliminary approval Monday to a deal in which Michael Baker Corp. will fork over more information to investors who had alleged the company’s $397 million sale to a private-equity-backed government contractor was “grossly inadequate.”

U.S. Magistrate Judge Maureen P. Kelly gave her nod to the plan, in which the company will hand over documents detailing its decision-making process in choosing Integrated Missions Solutions Inc. as its suitor in the deal, which ultimately paid investors $40.50 a share, according to the suit....
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