Globalstar Buyout Alert - National Securities Law Firm Seeks Higher Price for Globalstar Shareholders in Connection with Proposed Buyout, and Encourages Shareholders to Contact Law Firm Tripp Levy...
PRESS RELEASE PR Newswire
Apr. 26, 2018, 10:18 AM
NEW YORK, April 26, 2018 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the potential sale of Globalstar, Inc. (NYSE: GSAT) ("Globalstar" or the "Company") on behalf of its shareholders. Globalstar announced that it has entered into a definitive agreement with Thermo Acquisitions, Inc. pursuant to which the following assets will be combined with Globalstar: metro fiber provider FiberLight, LLC (FiberLight), 15.5 million shares of common stock of CenturyLink, Inc. (NYSE: CTL) (CenturyLink), $100 million of cash and minority investments in complementary businesses and assets of $25 million in exchange for Globalstar common stock valued at approximately $1.65 billion, subject to adjustments. Thermo Acquisition, Inc. is controlled by Jay Monroe, Executive Chairman of the Board of Directors and Chief Executive Officer of Globalstar.
Our investigation has determined that the deal valued at $1.65 billion unfairly under-values the true going forward inherent value of Globalstar and that shareholders may not be receiving the maximum value for their shares. The investigation further seeks to determine whether Globalstar's senior management is entering into this deal for their own self-interests to the detriment of the Company's shareholders.
If you are a shareholder of Globalstar and would like additional information as to how the proposed acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares at no cost, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: rel="nofollow">contact@tripplevy.com
www.tripplevy.com
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