An investigation on behalf of investors of Orbitz Worldwide, Inc. (NYSE:OWW) in connection with the proposed takeover was announced and NYSE:OWW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/17/2015 -- An investigation on behalf of investors, who currently hold shares of Orbitz Worldwide, Inc. (NYSE:OWW), was announced concerning whether the takeover of Orbitz Worldwide, Inc.. by Expedia, Inc is unfair to NYSE:OWW stockholders.
Investors who purchased shares of Orbitz Worldwide, Inc. (NYSE:OWW) and currently hold any of those NYSE:OWW 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 Orbitz Worldwide, Inc. breached their fiduciary duties owed to NYSE:OWW investors in connection with the proposed acquisition.
On February 12, 2015, Expedia, Inc. (Nasdaq:EXPE) announced it has entered into an agreement under which it will acquire Orbitz Worldwide, Inc. (NYSE:OWW), including all of Orbitz Worldwide's brands, for $12.00 per share in cash, representing an enterprise value of approximately $1.6 billion.
However, the investigation concerns whether the offer is unfair to NYSE:OWW stockholders. More specifically, the investigation concerns whether the Orbitz Worldwide 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.
Orbitz Worldwide, Inc. reported that its annual Total Revenue rose from $778.80 million in 2012 to $847.00 million in 2013 and that its Net Loss of $301.74 million in 2012 turned into a Net Income of $165.09 million in 2013.
On February 13, 2015, NYSE:OWW shares closed at $11.68 per share.
Those who are current investors in Orbitz Worldwide, Inc. (NYSE:OWW) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com