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Outdoor Channel Holdings, Inc. Message Board

  • sachshah25 sachshah25 Nov 16, 2012 10:25 AM Flag

    BUYOUT OF OUTDOOR CHANNEL - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS

     

    New York, New York (BusinessWire)

    Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of the Outdoor Channel Holdings, Inc. on behalf of shareholders. Outdoor Channel Holdings, Inc. (OUTD) entered into a definitive merger agreement with InterMedia Outdoors Holdings, LLC ("IMOH LLC").

    The transaction will take the form of a cash and stock election merger in which the Company's stockholders will be entitled to receive for each share, subject to proration, either $8.00 in cash or one share of stock in IMOH Inc. An aggregate of $115 million will be available for the Company's stockholders electing cash such that, as result of the transaction, the stockholders of the Company are expected to own approximately 32.4% of IMOH Inc. In connection with the transaction, the Company's board has also approved a 25 cent per share special dividend which will be paid on or about December 7, 2012 to stockholders of record as of the close of business on November 27, 2012. The Company expects that IMOH Inc. will be listed for trading on NASDAQ.

    The Company's largest stockholders, Perry T. Massie, Thomas H. Massie and their affiliated entities and each of the Company's directors and executive officers, together whom currently represent a combined ownership of approximately 41% of the Company, each have agreed to vote in favor of the transaction.

    The investigation concerns whether the board of directors has breached their fiduciary duties by not engaging in a full and fair auction of the company to get the highest price possible. Indeed, analysts have projected that the true buyout value of the company is worth at least $9 per share.

    If you are a shareholder of Outdoor and would like additional information please contact us toll free at 877-772-3975 or email at contact @ tripplevy

    Tripp Levy PLLC is a leading law firm that has recovered millions for shareholders around the globe

    This topic is deleted.
 

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