Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Superior Well Services, Inc.
12 Agosto 2010 - 3:54PM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
acquisition of Superior Well Services, Inc. (NASDAQ: SWSI - News)
(referred to as "Superior Well" or the “Company”) by Nabors
Industries Ltd. (referred to as “Nabors”) in a cash transaction
valued at approximately $900 million.
The companies have signed a definitive agreement under which
Nabors will promptly commence a tender offer for all outstanding
shares of Superior Well common stock at a price of $22.12 per share
in cash in accordance with the merger agreement.
Holders of approximately 34% of Superior Well’s common stock
outstanding and have entered into agreements agreeing to tender
their shares. Nabors expects the offer to close by the end of the
third quarter. Following completion of the tender offer, Nabors
will acquire any remaining shares of Superior Well through a
second-step merger at the same price paid in the tender offer.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders.
If you are a holder of Superior Well stock and want to discuss
your legal rights, you may e-mail or call Bull & Lifshitz, LLP
who will, without obligation or cost to you, attempt to answer your
questions.
If you are a shareholder of Superior Well and would like more
information about our investigation, please contact Joshua M.
Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an
e-mail including your contact information to:
counsel@nyclasslaw.com. All e-mail correspondence should make
reference to Superior Well.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please visit our website at www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2010 Bull & Lifshitz, LLP.
The law firm responsible for this advertisement is Bull &
Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212)
213-6222. Prior results do not guarantee or predict a similar
outcome with respect to any future matter.
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