Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

OILTANKING PARTNERS (OILT) INVESTIGATION - Andrews & Springer LLC Is Seeking More Cash for Unitholders of Oiltanking Partners, L.P.

Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Oiltanking Partners, L.P. (NYSE:OILT) (“Oiltanking” or the “Company”) relating to the sale of the Company to Enterprise Products Partners L.P. (“Enterprise”). On November 12, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Enterprise will acquire Oiltanking in a merger in a deal worth $1.4 billion. As a result of the merger, Oiltanking unitholders are only anticipated to receive a fixed ratio of 1.3 common units of Enterprise in exchange for each unit of Oiltanking.

Andrews & Springer’s investigation focuses on the insufficient consideration that Oiltanking unitholders are expected to receive. Analysts at Yahoo! Finance have set a $61.00 per unit price target for Oiltanking, which is approximately 18.67% more than what Oiltanking unitholders are expected to receive based on Enterprise’s unit price as of November 21, 2014. Following the merger, Oiltanking unitholders are expected to be substantially diluted. Additionally, the 1.3 fixed exchange ratio restricts the value that Oiltanking unitholders are expected to receive by exposing Oiltanking unitholders to the volatility of Enterprise’s unit price. In this year alone, Enterprise has traded as low as $32.32 on February 5, 2014.

If you own units/shares of Oiltanking and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/OILT or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice constitutes Attorney Advertising.

Contacts:

Andrews & Springer LLC
Craig J. Springer, Esq., 1-800-423-6013
cspringer@andrewsspringer.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.