BOULDER, Colo., Sept. 24, 2008 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating the proposed acquisition of Constellation Energy Group, Inc. ("Constellation" or the "Company") (NYSE:CEG).
On Sept.19, 2008, Constellation announced its intent to sell the Company to MidAmerican Energy. Under the terms of the merger agreement, Constellation shareholders would receive $26.50 in cash for every Constellation share they tender, for a total sale price of approximately $4.7 billion in cash. The proposed acquisition is subject to customary conditions and regulatory approvals.
As reported in the Baltimore Sun on Sept. 24, 2008, the day before Constellation announced the MidAmerican Energy deal, EDF, a French energy company said, it "offered the immediate commencement of negotiations of a merger agreement to acquire all of the outstanding capital stock of Constellation at a price of $35.00 per share." The Sun reported that according to EDF, Constellation, "has not responded" to the proposal. Constellation's failure to respond to EDF may result in damage to Constellation shareholders by impeding the maximization of shareholder value.
If you currently own Constellation 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 represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative litigation.
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