Children's Place Retail Stores Inc.
Just three weeks along, Children's Place's former CEO Ezra Dabah's campaign to acquire the company has proved a tough climb. Shareholders in the Seacaucus, N.J.-based retailer filed a class-action suit against the company and its board, according to a regulatory filing Wednesday, alleging Dabah's $24 per share proposal for the company unveiled Feb. 7 is unfair and "timed to take advantage of a temporarily depressed market price of the company's stock."
Euronet Worldwide Inc.-MoneyGram International Inc.
Meanwhile, Euronet Worldwide, a processor of electronic financial transactions, said it will not pursue its previously announced offer for MoneyGram because of problems in the target company and debt markets.
Nevertheless, MoneyGram still has buyers on tap. Earlier this month, it agreed to be bought by a consortium led by private equity firm Thomas H. Lee Partners LP and Goldman Sachs Group Inc.; the group will supply at least $1.2 billion in equity and debt for a majority stake in the company.
Endo Pharmaceuticals Holdings Inc.
And a key shareholder of Endo Pharmaceuticals Holdings Inc. said in a regulatory filing it has asked the pharmaceutical company's board to immediately assess the potential for a sale of the company and not consider a large acquisition. "As significant long-term shareholders, we remain concerned that the company is overly focused on the need to complete a large acquisition or in-licensing deal, " wrote shareholder, D.E. Shaw Composite Portfolios LLC in a letter to Roger Kimmel, Endo Pharmaceuticals' chairman. D.E Shaw and its affiliates collectively own about 9.8% of the company. Endo Pharmaceuticals, which makes branded and generic drugs to treat pain, has a current market capitalization of about $3.65 billion.
