Aramark Corp.

Philadelphia, PA: (Apr-14-07) The shareholder lawsuit that stemmed from the $8.3 billion buyout of Aramark Corp., a Philadelphia food concessionaire for colleges, hospitals, and stadiums, resulted in a settlement of $222 million. Bidders for the company, including chairman Joseph Neubauer, Goldman Sachs Group Inc., JPMorgan Chase & Co., Thomas H. Lee Partners, and Warburg Pincus, said in they would pay $32 a share for Aramark. After stockholders sued, the group raised the offer to $33.80 a share, or $222 million more. Delaware Chancery Court Judge John Noble awarded $2.1 million in fees and expenses to be paid by Aramark. The acquisition, which took the company private, was completed in Jan 2007 and was funded in part by $4.4 billion in loans. It marked the second time that a group of investors led by Neubauer moved to take Aramark off the stock market. The first time, in 1984, was to thwart a hostile takeover attempt that could have been the end of the company. [PHILLY INQUIRER: ARAMARK SHAREHOLDERS]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.

Please click here for a free evaluation of your claim

Published on Apr-19-07