The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of tw telecom, inc. Buyout Proposal
SMITHTOWN, NY, June 17, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of tw telecom, inc. (“tw telecom”) (NASDAQ GS: TWTC) for possible breaches of fiduciary duties and other violations of law in connection with tw telecom’s agreement to be acquired by Level 3 Communications, Inc. (“Level 3”) (NYSE: LVLT), in a transaction valued at approximately $7.3 billion.
Under the terms of the agreement, public shareholders of tw telecom would receive $10.00 in cash and 0.7 shares of Level 3 for each share of tw telecom they own.
The investigation concerns whether tw telecom’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to tw telecom’s stockholders would be fair and adequate, and whether tw telecom is acting in its stockholders’ best interests.