Lawyers come out swinging for GLG
By Lawrence Delevingne
Thu May 27, 2010
At least nine law firms are circling the Man Group acquisition of GLG looking for a payday.
On May 17, Man Group agreed to buy rival GLG Partners for
$1.6 billion, a 55% premium at $4.50 per share. The lawyers
have been coming out ever since.
At least nine law firms have launched investigations into the
purchase, looking for GLG shareholders who believe the purchase
price was too low.
"The firm'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
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.