Man Group/GLG Settle Shareholder Litigation

August 23, 2010

The Wall Street Journal reported on August 20, 2010 that Man Group and GLG Partners settled shareholder litigation concerning their planned merger.

The Wall Street Journal on August 20, 2010 cited a statement by Man Group plc to report that Man Group and GLG Partners, Inc. had settled shareholder litigation by disgruntled GLG shareholders.  For more information on the deal, see our 5/17/10 post.  The settlement, which still must be approved by the Delaware Chancery Court, involves amendments to provisions of the parties’ merger agreement reducing the amount of the breakup fee and shortening the period in which Man Group may amend the agreement. GLG also agreed to make additional disclosures in its proxy statement.
 
To see the article, please click here.


Categories

Hedge Fund M&A, Investment Manager M&A, Transactions