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Shareholder Update by Tripp Levy PLLC On Proposed Acquisition of First Advantage Corp |
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Written by Globe NewsWire
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Monday, 29 June 2009 |
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New York, New york - Tripp Levy PLLC announces an investigation into the proposed acquisition of First Advantage Corp. (Nasdaq:FADV) by the First American Corp. (NYSE:FAF). On June 29, 2009, FAF announced that it had made a proposal to acquire the remaining shares of FADV, its wholly-owned subsidiary, that it does not already own for 0.5375 of a share of FAF common stock for each FADV common stock.
The exchange ratio represents an offer price of $14.04 per share based on the companies' closing prices on June 26, 2009. FAF's offer is subject to the execution of a definitive agreement and the receipt of necessary approvals.
The investigation concerns whether the acquisition is inadequate and substantially below the fair or inherent value of FADV. FAF owns approximately 74% of the outstanding common stock of FADV, and has board representation on FADV.
If you are a current holder of FADV and would like additional information concerning this proposed transaction, including your rights, please feel free to contact us at the information below.
CONTACT: Tripp Levy PLLC
Peter Liddle
(877) 772-3975
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