Kendall Law Group Investigates Whether Meredith Corporation Obtained a Fair Price in Sale to Media General Inc.

DALLAS--()--Kendall Law Group, led by former federal Judge Joe Kendall, has launched an investigation of Meredith Corporation (NYSE: MDP) and its Board of Directors on behalf of shareholders in connection with the proposed sale to Media General Inc. The transaction is valued at approximately $2.4 Billion. Pursuant to the terms of the agreement, Meredith shareholders will only receive $34.57 in cash and 1.5214 shares of the new holding company formed by Media General for each share of Meredith owned upon closing. Upon closing, Media General shareholders will own approximately 65% and Meredith shareholders will own 35%. At least one Wall Street analyst has set a price target for Meredith at $58.00, much higher than the $51.53 offer price. The offer price is also significantly lower than Meredith’s 52 week high of $57.22.

The national securities firm’s investigation seeks to determine whether Meredith and its Board breached their fiduciary duties by failing to fulfill its fiduciary duties, failing to maximize the value of the Company, failing to disclose all material benefits and costs, and failing to obtain the best possible consideration for Meredith shareholders.

If you currently own shares of Meredith and you believe that the buyout price is too low or if you are interested to learn more about your legal rights, you are encouraged to contact Jamie McKey at the Kendall Law Group at 877-744-3728 or by email at to learn more about your rights as a shareholder. There is no cost or obligation to you. Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in nationwide complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.


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