BOULDER, Colo., Aug. 28, 2008 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating the proposed acquisition of IKON Office Solutions ("IKON") (NYSE:IKN).
On August 27, 2008, IKON announced that it has entered into a definitive merger agreement with Ricoh Company, Ltd. ("Ricoh"), a Japanese company. Under the terms of the agreement, Ricoh will acquire IKON for $17.25 per share, or approximately $1.6 billion in cash. The proposed acquisition is expected to close in the fourth quarter of 2008 and is subject to customary conditions and regulatory approval. Upon closing of the transaction, IKON will become a subsidiary of Ricoh. Ricoh's offer of $17.25 per share represents a mere $1.69 premium over IKON's closing stock price of $15.56 per share the day before the proposed merger was announced and raises questions regarding whether the proposed merger is in the best interests of IKON shareholders.
If you currently own IKON common stock and would like a free consultation concerning your rights and interests, please contact Kip Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
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