Shareholder Update on Buyout of AmeriCredit by GM by Tripp Levy PLLC
Tripp Levy PLLC announces an investigation into the proposed acquisition of AmeriCredit Corp. (NYSE: ACF). On July 22, 2010, General Motors (NYSE: GM) announced that it is proposing to acquire all of the outstanding shares of common stock of AmeriCredit for $24.50 per share in cash. In addition, AmeriCredit’s two largest shareholders, who own approx. 50% of all outstanding shares of common stock of AmeriCredit, and who has members on the Board of Directors of AmeriCredit, have voted in favor of the transaction.
AmeriCredit’s management team are expected to remain with the Company following completion of the transaction as well as vote in favor of the acquisition. Further, following completion of the transaction, GM said it is considering going public, which will further enhance AmeriCredit’s directors and management, including its two largest shareholders. This was confirmed by The New York Times which reported today that GM may in fact file for an initial public offering by August 13, 2010.
If you own AmeriCredit common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact
Tripp Levy
Tripp Levy PLLC
125 East 82nd Street
9th Floor
New York, New York
Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.
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Contact:
Tripp Levy PLLC
Tripp Levy, 877-772-3975
contact@tripplevy.com
