An investigation for investor in units of Williams Partners L.P. (NYSE:WPZ) concerning the takeover of Williams Partners L.P. was announced.
San Diego, CA -- (SBWIRE) -- 05/26/2015 -- An investigation on behalf of investors, who currently hold units of Williams Partners L.P. (NYSE:WPZ), was announced concerning whether the takeover of Williams Partners L.P. by Williams for a value of approximately $55.86 per share is unfair to NYSE:WPZ stockholders.
Investors who purchased units of Williams Partners L.P. (NYSE:WPZ) and currently hold any of those NYSE:WPZ units 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 Williams Partners L.P. breached their fiduciary duties owed to NYSE:WPZ investors in connection with the proposed acquisition.
On May 13, 2015 Williams (NYSE: WMB) and Williams Partners L.P. (NYSE:WPZ) announced an agreement under which Williams will acquire all of the public outstanding common units of Williams Partners in an all stock-for-unit transaction at a 1.115 ratio of Williams common shares per unit of Williams Partners. Based on a closing price of $50.10 per NYSE:WMB share on May 12, 2015, shareholders of Williams Partners L.P. (NYSE:WPZ) will receive a value of approximately $55.86 per NYSE:WPZ unit they own.
However, given that at least one analyst has set the high target price for NYSE:WPZ shares at $66.00 per share and that NYSE:WPZ shares traded as recently as November 2014 as high as $65.66 per share, the investigation concerns whether the offer is unfair to NYSE:WPZ stockholders. More specifically, the investigation concerns whether the Williams Partners Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized unitholder value by negotiating the best price, and acted in the unitholders' best interests in connection with the proposed sale.
On May 22, 2015, NYSE:WPZ shares closed at $58.13 per share.
Those who are current investors in Williams Partners L.P. (NYSE:WPZ) units have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego