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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of GLG Partners, Inc.

^{Published on 2010-05-17 18:20:26 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of GLG Partners, Inc. (aGLGa or the aCompanya) (NYSE:GLG) related to the Companya�s agreement to be acquired by Man Group plc (aMana).

Under the terms of the definitive merger agreement entered into by the parties, Man will acquire the outstanding common stock of GLG not subject to certain share exchange agreements for $4.50 per share through a merger with a wholly owned subsidiary of Man. Immediately prior to the closing of the merger, under the terms of the share exchange agreement, Man will acquire all of the common stock of GLG held by the principals and the equity participation plan partnerships in exchange for Man ordinary shares at an exchange ratio of 1.0856 Man shares per GLG share. Based on the closing prices of GLG and Man stock on May 14, 2010, the exchange ratio represents a value of $3.50 per GLG share. The share exchange is subject to a cap on the value of Man shares to be received of $4.25 per GLG share. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by GLGa�s board of directors.

If you own shares of GLG Partners, Inc., if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].