General Communication, Inc. (NASDAQ:GNCMA) Investor Investigation of Takeover

An investigation on behalf of investors of General Communication, Inc. (NASDAQ:GNCMA) in connection with the proposed takeover was announced and NASDAQ:GNCMA stockholders should contact the Shareholders Foundation.San Diego, CA — (SBWIRE) — 04/12/2017 — The acquisition of General Communication, Inc. is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold NASDAQ:GNCMA concerning whether the takeover of General Communication, Inc. by Liberty Interactive Corporation is unfair to.

Investors who purchased shares of General Communication, Inc. (NASDAQ:GNCMA) and currently hold any of those NASDAQ:GNCMA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain directors of General Communication, Inc. breached their fiduciary duties owed to NASDAQ:GNCMA investors in connection with the proposed acquisition.

On April 4, 2017, Liberty Interactive Corporation and General Communication, Inc. (NASDAQ:GNCMA) announced that they have entered into an agreement whereby Liberty Interactive will acquire General Communication, Inc. (NASDAQ:GNCMA) through a reorganization in which certain Liberty Ventures Group assets and liabilities will be contributed to General Communication, Inc. (NASDAQ:GNCMA) in exchange for a controlling interest in General Communication, Inc. (NASDAQ:GNCMA). Liberty Interactive will then effect a tax-free separation of its controlling interest in the combined company (to be named GCI Liberty, Inc. (“GCI Liberty”)) to the holders of Liberty Ventures common stock in full redemption of all outstanding shares of such stock. Shareholders of General Communication, Inc. (NASDAQ:GNCMA) will receive total consideration of $32.50 per share comprised of $27.50 per share in GCI Liberty Class A common stock and $5.00 in newly issued Series A preferred shares, based on a Liberty Ventures reference price of $43.65.

However, given that following the takeover announcement NASDAQ:GNCMA shares reached in the open market as high as $36.84 per share, the investigation concerns whether the offer is unfair to NASDAQ:GNCMA stockholders. More specifically, the investigation concerns whether the General Communication Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.

Shares of General Communication, Inc. (NASDAQ:GNCMA) closed on April 11, 2017 at $36.25 per share.

Those who are current investors in General Communication, Inc. shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc. Michael Daniels 3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.comFor more information on this press release visit: http://www.sbwire.com/press-releases/general-communication-inc-nasdaqgncma-investor-investigation-of-takeover-793370.htm

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