An investigation on behalf of investors of SemGroup Corporation (NYSE: SEMG) in connection with the proposed takeover was announced and NYSE: SEMG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/24/2019 -- An investigation was announced concerning whether the takeover of SemGroup Corporation is unfair to NYSE: SEMG stockholders.
Investors who purchased shares of SemGroup Corporation (NYSE: SEMG) and currently hold any of those NYSE: SEMG 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 SemGroup Corporation breached their fiduciary duties owed to NYSE: SEMG investors in connection with the proposed acquisition.
Tulsa, OK SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants.
On September 16, 2019 SemGroup Corporation (NYSE: SEMG) announced it has entered into a merger agreement whereby SemGroup will be acquired by Energy Transfer LP (NYSE: ET) in a unit and cash transaction valued at approximately $5.1 billion, including the assumption of debt and other liabilities.
Under the terms of the agreement, SemGroup shareholders will receive $6.80 per share in cash and 0.7275 of an ET common unit for each SemGroup share. The transaction values SemGroup at $17.00 per share.
However, the investigation concerns whether the offer is unfair to NYSE: SEMG stockholders. More specifically, the investigation concerns whether the SemGroup 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.
SemGroup Corporation reported that its annual Total Revenue rose from over $2.08 billion in 2017 to over $2.5 billion in 2018.
On September 23, 2019, NYSE: SEMG shares closed at $16.71 per share.
Those who are current investors in SemGroup Corporation (NYSE: SEMG) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.