OILTANKING PARTNERS (OILT) INVESTIGATION - Andrews & Springer LLC Is Seeking More Cash for Unitholders of Oiltanking Partners...
24 Novembro 2014 - 11:02AM
Business Wire
Andrews & Springer LLC, a boutique securities class
action law firm focused on representing shareholders nationwide, is
investigating potential breach of fiduciary duty claims against the
Board of Directors of Oiltanking Partners, L.P. (NYSE:OILT)
(“Oiltanking” or the “Company”) relating to the sale of the Company
to Enterprise Products Partners L.P. (“Enterprise”). On November
12, 2014, the two companies announced the signing of a definitive
merger agreement pursuant to which Enterprise will acquire
Oiltanking in a merger in a deal worth $1.4 billion. As a result of
the merger, Oiltanking unitholders are only anticipated to receive
a fixed ratio of 1.3 common units of Enterprise in exchange for
each unit of Oiltanking.
Andrews & Springer’s investigation focuses on the
insufficient consideration that Oiltanking unitholders are expected
to receive. Analysts at Yahoo! Finance have set a $61.00 per unit
price target for Oiltanking, which is approximately 18.67% more
than what Oiltanking unitholders are expected to receive based on
Enterprise’s unit price as of November 21, 2014. Following the
merger, Oiltanking unitholders are expected to be substantially
diluted. Additionally, the 1.3 fixed exchange ratio restricts the
value that Oiltanking unitholders are expected to receive by
exposing Oiltanking unitholders to the volatility of Enterprise’s
unit price. In this year alone, Enterprise has traded as low as
$32.32 on February 5, 2014.
If you own units/shares of Oiltanking and want to receive
additional information and protect your investments free of charge,
please visit us at
http://www.andrewsspringer.com/cases-investigations/OILT or contact
Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or
call toll free at 1-800-423-6013. You may also follow us on
LinkedIn – www.linkedin.com/company/andrews-&-springer-llc,
Twitter – www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice constitutes Attorney
Advertising.
Andrews & Springer LLCCraig J. Springer, Esq.,
1-800-423-6013cspringer@andrewsspringer.com
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