QEP MIDSTREAM PARTNERS, LP INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of QEP Midstream Partners, LP (QEPM) Over the Proposed Sale of the Company to Tesoro Corp. (TLLP)
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 QEP Midstream Partners, LP (“QEP” or the “Company”) (NYSE: QEPM) for potential breaches of fiduciary duties in connection with the sale of the Company to Tesoro Logistics LP (“Tesoro”) (NYSE: TLLP) for approximately $17.06 per share in an all-stock transaction, based on Tesoro’s April 14, 2015 closing price. The Company’s stockholders will receive 0.3088 shares of Tesoro for each share of QEP common stock they own. However, in the past year, QEP has traded as high as $27.16 per share.
The investigation focuses on whether QEP’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of QEP’s shareholders.
If you own common stock in QEP 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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