PVR PARTNERS INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of PVR Partners LP (PVR) Over the Proposed Sale of the Company to Regency Energy Partners LP (RGP)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of PVR Partners LP (“PVR” or the “Company”) (NYSE: PVR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Regency Energy Partners LP (“Regency Energy”) (NYSE: RGP) in a cash and stock deal valued at approximately $5.6 billion. Under the terms of the proposed transaction, PVR’s stockholders will receive 1.02 shares of Regency Energy for each share of PVR common stock they own. In addition, PVR shareholders will receive a one-time cash payment at closing of the merger estimated to be approximately $40 million in the aggregate. The consideration to be received by PVR shareholders is valued at $28.68 per common unit based on Regency’s closing price as of October 9, 2013. However, the value of Regency Energy stock has declined substantially on October 10, 2013, decreasing the consideration’s value.
The investigation focuses on whether PVR’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of PVR’s shareholders.
If you own common stock in PVR and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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