SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of
Investors of Belo Corporation - BLC
NEW YORK, June 13, 2013
NEW YORK, June 13, 2013 /PRNewswire/ --Pomerantz Grossman Hufford Dahlstrom &
Gross LLP is investigating claims on behalf of investors of Belo Corporation
("Belo" or the "Company") (NYSE: BLC) (ISIN: US0805551050) (CUSIP: 080555105)
concerning the proposed acquisition of Belo by Gannett Co., Inc. in a
transaction valued at approximately $1.5 billion, plus the assumption of $715
million in existing debt for an enterprise value of approximately $2.2
The investigation concerns whether the Belo directors are breaching their
fiduciary duties by failing to adequately shop the Company and maximize
shareholder value. Under the terms of the agreement, Belo shareholders will
be entitled to receive $13.75 per share in cash for each share of Belo common
stock. However, the price to EBITDA and Revenue multiples are below the
average of comparable transactions. In addition, synergies may not be fully
reflected in purchase price.
Belo shareholders seeking more information about this acquisition are advised
to contact Robert Willoughby at email@example.com or 212-661-1100 or
888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the
following companies: Hilltop Community Bancorp, Inc., Dole Food Company, Inc.,
Centerline Holding Company, and Cooper Tire & Rubber Company.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 75 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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