An investigation on behalf of investors of Harvest Natural Resources, Inc. (NYSE:HNR) in connection with a potential takeover was announced and NYSE:HNR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/24/2013 -- An investigation on behalf of investors in Harvest Natural Resources, Inc. (NYSE:HNR) shares was announced concerning whether a potential takeover of Harvest Natural Resources, Inc. by Pluspetrol Venezuela S.A. would be unfair to investors in NYSE:HNR shares.
Investors who purchased shares of the Harvest Natural Resources, Inc. (NYSE:HNR) and currently hold any of those NYSE:HNR shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm is at an early stage and concerns whether a takeover would be unfair to NYSE:HNR investors.
On Sept. 11, 2013, Harvest Natural Resources, Inc. announced it has entered into exclusive negotiations with Pluspetrol Venezuela S.A. to sell the outstanding shares of Harvest Natural Resources, Inc. The total consideration for the proposed transaction with Pluspetrol Venezuela S.A. is approximately $373 million. This consideration for the proposed transaction includes the assumption of the Company's long-term debt and certain other obligations of the Company.
However, given that at least one analyst has set the high target price for NYSE:HNR shares at $9.00 per share and NYSE:HNR shares traded as high as $10.25 in early 2013, the investigation a law firm concerns whether the Harvest Natural Resources Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
On Sept. 23, 2013, NYSE:HNR shares closed at $5.09 per share.
Those who are current investors in Harvest Natural Resources, Inc. (NYSE:HNR) and purchased their NASDAQ:PAMT shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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