An investigation on behalf of investors of Athlon Energy Inc (NYSE:ATHL) in connection with the proposed takeover was announced and NYSE:ATHL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/06/2014 -- The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Athlon Energy Inc (NYSE:ATHL), was launched concerning whether the takeover of Athlon Energy Inc. by Encana Corporation for $58.60 is unfair to NYSE:ATHL stockholders.
Investors who purchased shares of Athlon Energy Inc (NYSE:ATHL) and currently hold any of those NYSE:ATHL shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Athlon Energy Inc breached their fiduciary duties owed to NYSE:ATHL investors in connection with the proposed acquisition.
On September 29, 2014, Encana Corporation (TSX: ECA) (NYSE: ECA) and Athlon Energy Inc (NYSE:ATHL) announced that the two companies have entered into a merger agreement for Encana Corporation to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon Energy Inc (NYSE:ATHL) by means of an all-cash tender offer for US$5.93 billion or US$58.50 per share, as well as Encana Corporation assuming Athlon's US$1.15 billion of senior notes, for a total transaction value of approximately US$7.1 billion.
However, given that at least one analyst has set the high target price for NYSE:ATHL shares at $65.00 per share, the investigation concerns whether the offer is unfair to NYSE:ATHL stockholders. More specifically, the investigation concerns whether the Athlon Energy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Athlon Energy Inc reported that its annual Total Revenue rose from $157.11 million in 2011 to $299.37 million in 2013 and that its respective Net Income increased from $53.01 million to $59.06 million. Shares of Athlon Energy Inc (NYSE:ATHL) grew from $26.38 per share in August 2013 to as high as $50.89 per share in July 2014.
On October 2, 2014, NYSE:ATHL shares closed at $58.21 per share.
Those who are current investors in Athlon Energy Inc (NYSE:ATHL) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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