From: http://www.bloomberg.com/news/2011-04-12/epicor-software-sued-by-investor-seeking-to-block-976-million-apax-deal.html
Epicor Software Corp. (EPIC) was sued by an investor who claims
private-equity firm Apax Partners LLP’s $976 million offer for the
software maker is unfair to shareholders.
The proposed transaction is “patently opportunistic†and doesn’t
reflect Epicor’s true value, the Field Family Trust said in the
complaint filed today in Delaware Chancery Court in Wilmington. The
trust is seeking a court order barring the deal in addition to
unspecified damages.
“The deal appears to be driven by the Elliot Entities’ desire to
liquidate its Epicor holdings,†the trust said in the complaint,
referring to New York-based Elliott Associates LP, which owns about 14
percent of company shares according to Bloomberg data.
...
Epicor Software Corp. (EPIC) was sued by an investor who claims
private-equity firm Apax Partners LLP’s $976 million offer for the
software maker is unfair to shareholders.
The proposed transaction is “patently opportunistic†and doesn’t
reflect Epicor’s true value, the Field Family Trust said in the
complaint filed today in Delaware Chancery Court in Wilmington. The
trust is seeking a court order barring the deal in addition to
unspecified damages.
“The deal appears to be driven by the Elliot Entities’ desire to
liquidate its Epicor holdings,†the trust said in the complaint,
referring to New York-based Elliott Associates LP, which owns about 14
percent of company shares according to Bloomberg data.
...