BOULDER, Colo., Aug. 28, 2008 (LAWFUEL) — 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.
