WILMINGTON, Del., June 16, 2014 /PRNewswire/ -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of TW Telecom ("TW" or the "Company") (NASDAQ: TWTC) relating to the sale of the Company to Level 3 Communications (NYSE: LVLT) ("Level 3"). On June 16, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Level 3 will acquire TW Telecom in a merger valued at roughly $1.9 billion. As a result of the merger, TW shareholders are only anticipated to receive $10 per share in cash and 0.7 shares of Level 3 common stock in exchange for each share of TW. The total consideration TW shareholders are expected to receive is roughly $40.86 per share.
Our Firm's investigation has so far uncovered that the consideration TW shareholders are expected to receive is inadequate. Analysts at Yahoo! Finance have set a $40 per share price target for TW, which represents only a meager 10% premium based on TW's June 13, 2014 closing price of $36.34 per share.
Andrews & Springer is investigating whether TW directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by Evercore, the Company's financial advisor.
If you own shares of TW and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/twtelecom or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
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