March 27, 2013
Removing a potential obstacle in the way of Focus Media Holding Ltd.'s proposed $3.7 billion go-private deal, a pension fund on Tuesday dropped a shareholder class action alleging the buyout offer led by Carlyle Group LP undervalued the Chinese digital advertising agency.
March 20, 2013
Chinese advertising giant Focus Media Holding Ltd. on Tuesday blasted a proposed class action seeking to block a shareholder vote on the company's proposed $3.7 billion take-private deal with The Carlyle Group LP, arguing certain provisions of the Securities Exchange Act don't apply to foreign issuers.
March 14, 2013
A pension fund shareholder of Focus Media Holding Ltd. on Wednesday asked a California federal judge to bar Focus Media from holding a shareholder vote on its proposed $3.7 billion take-private deal with The Carlyle Group LP because the media firm provided misleading deal information in a January proxy statement.
February 26, 2013
A pension fund took aim at Focus Media Holdings Ltd.'s proposed $3.7 billion go-private deal on Friday, claiming the Chinese digital advertising agency's CEO pushed through a lowballed buyout offer led by Carlyle Group LP to secure his personal fortune at shareholders' expense.