An investigation on behalf of investors of Anadarko Petroleum Corporation (NYSE: APC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 04/18/2019 -- An investigation was announced concerning the takeover of Anadarko Petroleum Corporation.
Investors who purchased shares of Anadarko Petroleum Corporation (NYSE: APC) and currently hold any of those NYSE: APC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Anadarko Petroleum Corporation breached their fiduciary duties owed to NYSE: APC investors in connection with the proposed acquisition.
The Woodlands, TX based Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. On April 12, 2019, Chevron Corporation (NYSE: CVX) announced that it has entered into an agreement with Anadarko Petroleum Corporation (NYSE: APC) to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share.
However, given that at least one analyst has set the high target price for NYSE: APC shares at $80.00 per share and given that shares of Anadarko Petroleum Corporation (NYSE: APC) traded as recently as high as $76.70 per share in July 2018, the investigation concerns whether the offer is unfair to NYSE: APC stockholders. More specifically, the investigation concerns whether the Anadarko Petroleum 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.
Anadarko Petroleum Corporation reported that its annual Total Revenue rose from over $10.87 billion in 2017 to $12.9 billion in 0218 and that its Net Loss of $465 million in 2017 turned to a Net Income of $615 million in 2018.
Shares of Anadarko Petroleum Corporation (NYSE: APC) closed on $63.87 per share.
Those who are current investors in Anadarko Petroleum Corporation (NYSE: APC) shares have certain options and should contact the Shareholders Foundation.
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