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Blue Harbour Group Comments On Savvis Acquisition
Apr 27, 2011 (04:04 PM EDT)
GREENWICH, Conn., April 27, 2011 /PRNewswire/ -- Blue Harbour Group, a significant shareholder in Savvis, Inc. (Nasdaq: SVVS) since May 2010, today issued the following statement from its Chief Executive Officer, Clifton S. Robbins, commenting on Savvis's agreement to be acquired by CenturyLink, Inc. (NYSE: CTL) for $40.00 per share in cash and stock:
"Blue Harbour has been supportive of Savvis management's commitment to create and unlock value. Since the time of our investment, Jim Ousley and his team have accelerated growth and built an enterprise that has delivered significant value for its customers and shareholders. CenturyLink's acquisition recognizes that Savvis is an excellent company with strategic assets, strong cash flows and growth prospects."
Blue Harbour recently disclosed ownership of approximately 2 million Savvis shares, or about 3.5 percent of shares outstanding.
Blue Harbour Group was formed in 2004 to pursue a private equity approach to public markets by acting as a lead minority investor, working cooperatively with managements and boards to create and unlock shareholder value.
SOURCE Blue Harbour Group