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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Savvis, Inc. in Connection with the Proposed Acquisition of the Company by CenturyLink, Inc.BENSALEM, Pa. --(Business Wire)-- Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Savvis, Inc. ("Savvis" or the "Company") (NASDAQ:SVVS) related to the Company's agreement to be acquired by CenturyLink, Inc. ("CenturyLink"). The proposed cash-and-stock transaction is valued at approximately $2.5 billion. Under the terms of the definitive agreement entered into by the parties, Savvis stockholders will receive $30 in cash and $10 in shares of CenturyLink common stock, for each share they own of Savvis common stock, subject to certain adjustments. The transaction is expected to be completed in the second half of 2011. The investigation concerns whether the board of directors of Savvis breached ther fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Savvis has experienced recent positive financial results, announcing first quarter 2011 revenue of $257 million compared to $216.6 million in the first quarter of 2010. Further, at least one analyst has set a target price of $46.00 per share, virtually nullifying any premium that Savvis shareholders would receive under the transaction. If you are a shareholder of Savvis, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.
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