BUYOUT OF OPENTABLE - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
June 13, 2014
New York, New York
Tripp Levy PLLC, a leading shareholder rights law firm is investigating the acquisition of OpenTable on behalf of shareholders. Priceline and OpenTable announced that they have entered into a merger agreement where Priceline would pay $103 per share for each OpenTable common share.
The investigation concerns whether OpenTable engaged in a full and fair auction and process before entering into the deal with Priceline, whether the terms in the merger agreement including a provision that prevents the shopping of the company for a higher price and a penalty fee of $91 million should another company even make an unsolicited offer is fair to shareholders and in their best interests to obtain a higher price. Further, whether senior executives of Opentable obtained personal benefits and were acting in their own self interests in selling the company. Indeed, the stock is currently trading well above the offer price ($104.50)
If you are a shareholder of open table and would like additional information at no cost or expense please contact 1 800 511 7037 or visit our website at tripplevy