Cablevision Investor Sues To Halt $17.7B Altice Deal
Law360, Wilmington (September 25, 2015, 7:17 PM EDT) -- An investor in Cablevision Systems Corp. launched a putative class action in the Delaware Chancery Court on Thursday looking to halt the blockbuster $17.7 billion acquisition by European telecommunications giant Altice NV, arguing the deal price is too low given the target's potential for "significant long-term growth."
Cablevision shareholder James R. Gould Jr. argued that while the $34.90-per-share deal price represents a 22 percent premium on the stock's close before the deal was announced, it cashes out shareholders without taking into account the real benefits they'd reap from the company's continued growth.
"Cablevision has beat consensus analyst estimates for sales in...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!