Ariba Investor Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Sale of Ariba, Inc. to SAP
23 Mai 2012 - 4:51PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Ariba, Inc. (“Ariba” or “ARBA”)
(NASDAQ: ARBA) to SAP AG subsidiary, SAP America, Inc. for
shareholders. Under the proposed transaction, Ariba shareholders
will only receive $45.00 in cash for each share of Ariba/ARBA stock
owned, which is well below at least one analyst’s estimated value
of $50.00 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement is valued at approximately $4.3
billion and is expected to close during the third quarter of
2012.
According to shareholder rights attorney Willie Briscoe, “The
investigation relates to the fairness of the proposed transaction
to Ariba’s shareholders and whether the Board of Directors is
adequately shopping the company in order to obtain the best
possible price for the shareholders. Notably, at least one analyst
at Yahoo! Financial estimates that the true inherent value of the
company is $50.00 per share. Due to the lack of a significant
premium to the shareholders and other factors, we believe that the
transaction may undervalue Ariba stock. Our lawsuit will seek to
obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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