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Kendall Law Group Investigates GLG Partners, Inc. Buyout for Shareholders

^{Published on 2010-05-18 15:50:11 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm, is investigating GLG Partners, Inc. (NYSE:GLG) for shareholders in connection with the acquisition by Man Group plc. The firma™s investigation seeks to determine whether GLG and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a GLG shareholder and have any information to contribute or would like information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On May 17, 2010 the companies announced that they had entered into an agreement for GLG to be acquired by Man Group in a $1.6 billion transaction. According to the agreement, GLG shareholders will receive $4.50 in cash per share; however, GLG stock closed as high as $4.35 on September 22, 2009 and $4.02 as recently as October 12, 2009. A separate share exchange agreement with GLGa™s principals and two limited partnerships will be commenced just prior to the closing of the merger. In this agreement, Man Group will exchange 1.0856 shares for each GLG share owned by the principals and partnerships. This exchange values shares at approximately $3.50 and will provide a maximum of $4.25 per share. Based on these prospects for the Company, the firm believes the transaction undervalues shareholders' investment.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States.