Newman Ferrara LLP has begun an investigation into potential claims against the Board of Directors of PVR Partners L.P. (“PVR”) (NYSE: PVR) concerning the proposed acquisition of PVR by Regency Energy Partners L.P. (NYSE: RGP).
PVR has entered into an agreement and plan of merger to be acquired by Regency in a unit-for-unit transaction valued at approximately $5.6 billion. Pursuant to the agreement, PVR shareholders will receive 1.020 common units of Regency for each unit of PVR owned and a one-time payment of $40 million upon closing of the proposed deal. Based on Regency’s closing price on October 9, 2013, the transaction would provide consideration valued at approximately $28.68 per common unit to PVR unitholders.
Newman Ferrara’s investigation concerns whether PVR’s Board of Directors has breached its fiduciary duties to act in the best interests of PVR unitholders. The investigation focuses on the potential unfairness of the consideration being provided to PVR unitholders and the process by which PVR’s Board of Directors approved the proposed deal.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at firstname.lastname@example.org or (212) 619-5400 to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
Roy Shimon, 212-619-5400
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