Carson Block of Muddy Waters Comments on Focus Media Going Private Proposal

Shares of Focus Media FMCN traded up as much as 11% Monday morning after the company received a going private proposal for $27 per share. The company had been targeted by noted short-seller Muddy Waters. Carson Block of Muddy Waters commented, "The markets are far better off if a few deep pocketed investors own this company instead of mutual funds and other public shareholders."