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WeissLaw LLP Investigates Convergys Corporation

NEW YORK, June 29, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Convergys Corporation ("CVG" or the "Company") (CVG) in connection with the proposed acquisition of the Company by SYNNEX Corporation ("SNX") (SNX).  Under the terms of the acquisition agreement, CVG shareholders will be entitled to receive $13.25 in cash and 0.1193 of a SNX share for each CVG share they own, representing consideration of $24.70 based on SNX trading price of $96.05 on June 29. 

WeissLaw is investigating whether CVG's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the acquisition is a compelling transaction which, according to SNX's CEO, positions it as a clear leader in the Business Process Outsourcing ("BPO") industry.  Additionally, the deal is expected to (1) be immediately accretive and add approximately $2.7 billion to SNX's revenue, (2) add 12 new countries to its global footprint, and (3) add an attractive new client base in strategic vertical markets.  At close of the transaction, SNX will have increased its global footprint, servicing approximately 40 countries in nearly 70 different languages, with anticipated EBITDA of approximately $380 million in the first year after closing. 

Given these facts, WeissLaw is investigating whether CVG's Board acted in the best interests of CVG's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own CVG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/convergys-corporation/ 

 

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