An investigation on behalf of investors of JP Energy Partners LP (NYSE:JPEP) in connection with the proposed takeover was announced and JP Energy Partners LP (NYSE:JPEP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/03/2016 -- An investigation on behalf of investors, who currently hold NYSE:JPEP units, was announced concerning the takeover of JP Energy Partners LP . by American Midstream Partners, LP.
Investors who purchased units of JP Energy Partners LP (NYSE:JPEP) and currently hold any of those JP Energy Partners LP (NYSE:JPEP units have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of JP Energy Partners LP (NYSE:JPEP) breached their fiduciary duties owed to NYSE:JPEP investors in connection with the proposed acquisition.
On October 24, 2016, American Midstream Partners, LP (NYSE: AMID) and JP Energy Partners LP (NYSE:JPEP) announced their execution of a merger agreement to create a combined midstream platform. Under the terms of the agreement, JP Energy Partners unitholders will receive 0.5775 units of American Midstream Partners, LP (NYSE: AMID) with a value of $8.63 for each common unit of JP Energy Partners LP (NYSE:JPEP).
However, given that at least one analyst has set the high price target for NYSE:JPEP units at $10.75 and given that NYSE:JPEP units traded in August 2016 as high as $9.85 per unit, the investigation concerns whether the offer is unfair to NYSE:JPEP unit holders. More specifically, the investigation concerns whether the JP Energy Partners Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized unitholder value by negotiating the best price, and acted in the unit holders' best interests in connection with the proposed sale.
On November 2, 2016, JP Energy Partners LP (NYSE:JPEP) units closed at $7.73.
Those who are current investors in JP Energy Partners LP units have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com