![]() The plaintiffs are therefore seeking an unspecified amount of damages and a possible halt to the merger. ![]() However, the litigants claim that Youbet’s stock was trading earlier in the year – in August – at more than $3.70, and that at least one analyst has projected it could hit $4 a share, indicating that Youbet directors could have achieved a substantially better deal. The offer was probably based on theYoubet share price immediately prior to the announcement, which had sunk to $2.22 a share. Two weeks ago Churchill Downs announced it had agreen to acquire YouBet for $127 million in stock and cash, or about $2.84 a share. ![]() The publication reveals that at least five separate shareholders of YouBet have filed lawsuits in Los Angeles Superior Court alleging that Churchill Downs is underpaying for their company. 12/1/09 – The Boardroom celebrations on the agreement by US horseracing company Churchill Downs to buy the online race gambling company could be premature, according to reports in the Los Angeles Business Journal this week.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |