An investigation on behalf of investors of Sunoco, Inc. (NYSE:SUN) in connection with the takeover was announced and NYSE:SUN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/02/2012 -- Following the merger proposal by Energy Transfer Partners, L.P an investigation on behalf of investors in NYSE:SUN shares was announced concerning whether the offer to take over Sunoco, Inc. at a value of approximately $50.13 per share and the takeover process are unfair to investors in Sunoco, Inc. (NYSE:SUN).
Investors who purchased shares of Sunoco, Inc. (NYSE:SUN) prior to April 30, 2012 and currently hold any of those NYSE:SUN shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether certain officers and directors of Sunoco, Inc. breached their fiduciary duties owed to NYSE:SUN) investors in connection with the proposed acquisition.
On Monday, Apr. 30, 2012, Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco, Inc. (NYSE: SUN) announced that they have entered into a merger agreement whereby Energy Transfer Partners will acquire Sunoco in a unit and cash transaction valued at $50.13 per share, which consists of $25 in cash and 0.5245 of an NYSE: ETP common unit, or a total consideration of approximately $5.3 billion, based on ETP’s closing price on April 27, 2012.
However, at least one analyst has set the high target price for NYSE:SUN stocks at $51 per share.
Therefore the investigation for NYSE:SUN investors concerns whether the proposed transaction is unfair to Sunoco stockholders. Specifically, the investigation focuses on whether the Sunoco 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.
Those who are current investors in Sunoco, Inc. (NYSE:SUN) and purchased their Sunoco, Inc. (NYSE:SUN) 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