An investigation on behalf of investors of Rice Energy Inc (NYSE:RICE) in connection with the proposed takeover was announced and NYSE:RICE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/26/2017 -- An investigation was announced for investors, who currently hold shares of Rice Energy Inc (NYSE:RICE), over the takeover of Rice Energy Inc. by EQT Corporation for a value of approximately $27.04 per share.
Investors who purchased shares of Rice Energy Inc (NYSE:RICE) and currently hold any of those NYSE:RICE shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Rice Energy Inc breached their fiduciary duties owed to NYSE:RICE investors in connection with the proposed acquisition.
On June 19, 2017, EQT Corporation (NYSE:EQT) and Rice Energy Inc. (NYSE:RICE) announce that they have entered into an merger agreement under which EQT Corporartion will acquire all of the outstanding shares of Rice Energy Inc common stock for total consideration of approximately $6.7 billion – consisting of 0.37 shares of EQT common stock and $5.30 in cash per share of Rice Energy Inc common stock. The value of the transaction, based on EQT's closing stock price as of June 16, 2017, is approximately $27.04 per Rice Energy share.
However, given that at least one analyst has set the high target price for NYSE:RICE shares at $40.00 per share, the investigation concerns whether the offer is unfair to NYSE:RICE stockholders. More specifically, the investigation concerns whether the Rice 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.
On June 23, 2017, NYSE:RICE shares closed at $25.65 per share.
Those who are current investors in Rice Energy Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego