The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Vocus, Inc. (NASDAQ:VOCS) shares, was initiated concerning whether the takeover of Vocus, Inc. by GTCR Valor Merger Sub, Inc., an affiliate of GTCR LLC for $18 per share is unfair to NASDAQ:VOCS stockholders.
Investors who purchased shares of Vocus, Inc. (NASDAQ:VOCS) and currently hold any of those NASDAQ:VOCS shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Vocus, Inc. breached their fiduciary duties owed to NASDAQ:VOCS investors in connection with the proposed acquisition.
On April 7, 2014, Vocus, Inc. announced it has entered into a merger agreement to be acquired by GTCR Valor Merger Sub, Inc., an affiliate of GTCR LLC (“GTCR”), in an all-cash transaction valued at approximately $446.5 million.
Upon the terms and subject to the conditions of the agreement, GTCR Valor Merger Sub, Inc. will commence a tender offer to acquire all of the outstanding shares of Vocus Inc’s common stock for $18.00 per share, net to the holder of such share of Vocus common stock, in cash, without interest and subject to any applicable tax withholding.
However, given that concurrently with entering into the merger agreement, GTCR Valor Companies, Inc. and GTCR Valor Merger Sub, Inc. entered already into separate tender and support agreements with Okumus Fund Management Ltd., Mr. Rudman and Stephen Vintz, the Company’s Executive Vice President, Chief Financial Officer and Treasurer, pursuant to which they have each agreed, subject to the terms and conditions thereof, to tender their respective shares of Vocus’s common stock in the offer, which together represent 27.7% of the currently outstanding shares of Vocus’s common stock, the investigation concerns whether the $18-offer is unfair to NASDAQ:VOCS stockholders. More specifically, the investigation concerns whether the Vocus Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Vocus, Inc. reported that its annual Total Revenue rose from $170.80 million in 2012 to $186.93 million in 2013 and that its respective Net Loss declined from $23.59 million to $21.81 million. Shares of Vocus, Inc. (NASDAQ:VOCS) traded during 2011 as high as $32.44 per share, respectively as high as $23.79 per share in early 2012.
On April 17, 2014, NASDAQ:VOCS shares closed at $17.99 per share.
Those who are current investors in Vocus, Inc. (NASDAQ:VOCS) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com