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Hemisphere Media Investor Seeks Records In 'Unfair' Deal

Law 360 M&A

A shareholder in Florida-based Hemisphere Media Group Inc. filed a suit in Delaware Chancery Court seeking to inspect financial records to investigate possible wrongdoing and breach of duty stemming from a deal between board members and financial advisers to lower stock prices in a bid to take the company private.

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Why Hemisphere Media Shares Are Soaring Today

Benzinga

Gato Investments LP agreed to acquire Hemisphere Media Group, Inc (NASDAQ: HMTV ) at $7 per share. The offer price implies a premium of 86% over Hemisphere's closing share price on May 6, the last trading day before the announcement. Hemisphere will become a private company wholly owned by Gato.

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