LIN SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of LIN Media LLC (LIN) Over the Proposed Sale of the Company to Media General Inc. (MEG) in a Cash or Stock Deal
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of LIN Media LLC (“LIN” or the “Company”) (NYSE: LIN) for potential breaches of fiduciary duties in connection with the sale of the Company to Media General Inc. (MEG) for approximately $1.6 billion, or $2.6 billion including debt of $968 million. The Company’s stockholders will only receive stock or cash worth $27.82, or 1.5762 shares of the Media General Inc. for each share of LIN common stock they own. According to Yahoo! Finance, at least one analyst estimated the target price to be $32.00 per share.
The investigation focuses on whether LIN’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of LIN’s shareholders.
If you own common stock in LIN and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.