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NetRatings Offer Probed
In the US, an investigation into VNU's proposed buyout of the remaining shares in majority-owned subsidiary NetRatings has been launched by Kahn Gauthier Swick, LLC (KGS), specialists in stock market fraud and shareholder suits.
VNU announced last week an offer of $16 per share, just over $225m in total, to purchase the 39.5% of NetRatings shares it does not already own (www.mrweb.com/drno/news6012.htm ). In a statement, KGS said its initial investigations 'indicate that the VNU offer may substantially undervalue NetRatings' assets and goodwill', adding: 'KGS is investigating whether VNU's buyout offer is low in light of possible hidden tax assets and patent litigation assets, which may not have been valued, or may have been undervalued, in this offer.'
The legal firm has invited institutional investors and fund managers with 'knowledge regarding the undervaluation of VNU's buyout offer, or with knowledge of facts that demonstrate the unfairness of the bidding or evaluation process', to assist by contacting them as soon as possible.
KGS is online at www.kglg.com .
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