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Investigation announced for Investors in Viacom Inc. (NASDAQ: VIA) over possible Wrongdoing in Merger between Viacom and CBS

09-11-2019 06:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Viacom Inc. (NASDAQ: VIA) in connection with the proposed takeover was announced.

An investigation on behalf of investors of Viacom Inc. (NASDAQ: VIA) in connection with the proposed takeover was announced.

An investigation on behalf of investors, who currently hold shares of Viacom Inc. (NASDAQ: VIA), was announced concerning whether the merger of Viacom Inc. and CBS is unfair to Viacom Inc. stockholders.

Investors who purchased shares of Viacom Inc. (NASDAQ: VIA) and currently hold any of those NASDAQ: VIA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Viacom Inc. (NASDAQ: VIA breached their fiduciary duties owed to Viacom Inc. (NASDAQ: VIA investors in connection with the proposed acquisition.

New York based Viacom Inc. operates media brands that create entertainment content worldwide. On August 13, 2019, CBS (NYSE: CBS.A, CBS) and Viacom (NASDAQ: VIA, VIAB), two of the world’s leading entertainment companies, announced they have entered into an agreement to combine in an all-stock merger, creating a combined company with more than $28 billion in revenue. Under the terms of the merger agreement, each Viacom Class A voting share and Viacom Class B non-voting share will convert into 0.59625 of a Class A voting share and Class B non-voting share of CBS, respectively. Shareholders of Viacom Inc. will receive a value of approximately $28.52 per share.

However, given that at least one analyst has se the high target price for NASDAQ: VIA shares at $78.00 and NASDAQ: VIAB shares at $42.00 per share, the investigation concerns whether the offer is unfair to Viacom Inc. (NASDAQ: VIA stockholders. More specifically, the investigation concerns whether the Viacom Inc. (NASDAQ: VIA 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.

Shares of Viacom Inc. (NASDAQ: VIA) closed on September 10, 2019 at $27.99 per share.

Those who are current investors in Viacom Inc. (NASDAQ: VIA) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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