NASDAQ:GCOM Investor Alert: Investigation over potential Takeover of Globecomm Systems
The Shareholders Foundation announces that an investigation on behalf of investors in Globecomm Systems, Inc. (NASDAQ:GCOM) shares is ongoing concerning whether a takeover of Globecomm Systems, Inc. would be unfair to investors in NASDAQ:GCOM shares.
Hauppauge, New York based Globecomm Systems Inc. provides satellite-based managed network solutions.
Investors who purchased shares of the Globecomm Systems, Inc. (NASDAQ:GCOM) and currently hold any of those NASDAQ:GCOM shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:GCOM investors.
On Jan. 15, 2013, Globecomm Systems Inc. (NASDAQ: GCOM) announced that it has retained Needham & Company to act as its financial advisor to review potential strategic alternatives to enhance shareholder value.
However, at least one analyst has set the high target price at $17.50 per share.
In addition, NASDAQ:GCOM shares traded in 2012 as high as $1.583 per share. Furthermore, Globecomm Systems’ financial performance improved lately. In fact, it reported that its Total Revenue increased from $274.19 million for the 12 months period that ended on June 30, 2011 to $381.90 million for the 12 months period that ended on June 30, 2012 and that its Net Income for the respective time periods increased from $8.99 million to $28.56 million. Shares of Globecomm Systems, Inc. (NASDAQ:GCOM) grew from as low as $4.54 per share in March 2009 to as high as $16.03 in 2011.
Therefore the investigation a law firm concerns whether the Globecomm Systems Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders’ best interests in connection with the proposed sale.
On Jan. 29, 2013, NASDAQ:GCOM shares closed at $12.58 per share.
Those who are current investors in Globecomm Systems, Inc. (NASDAQ:GCOM) and purchased their Globecomm Systems shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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