The legal challenges started within 90 minutes of infoGroup officially announcing it had been sold.
InfoGroup confirmed its sale to private equity firm CCMP Capital mid-Monday. According to a company release, the total value of the transaction was $635 million. But a Wall Street Journal report pegged the price at $460 million, and that price is more in line with the $8 per share the company will award stakeholders.
Almost immediately, a number of law firms issued statements saying they would investigate the sale. Whether these investigations will involve lawsuits or any other actions was not specified in the releases.
Common practice is for firms to pay a premium over the price of the most recent close when acquiring publicly held targets. On March 5, the stock finished trading at $8.16 per share. Monday
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