Robbins Arroyo LLP: Acquisition of Cheniere Energy Partners LP Holdings, LLC (CQH) by Cheniere Energy, Inc. (LNG) May Not Be ...
October 03 2016 - 5:57PM
Business Wire
Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of Cheniere Energy Partners
LP Holdings, LLC ("Cheniere Partners Holdings") (NYSE MKT: CQH) by
Cheniere Energy, Inc. ("Cheniere") (NYSE MKT: LNG). On September
30, 2016, the two companies announced the signing of a definitive
merger agreement pursuant to which Cheniere will acquire Cheniere
Partners Holdings. Under the terms of the agreement, Cheniere
Partners Holdings shareholders will receive 0.5049 shares of
Cheniere common stock for each share of Cheniere Partners Holdings
common stock, the value of which is equivalent to $21.90 based on
Cheniere's closing price on September 29, 2016.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/cheniere-energy-partners-lp-holdings-llc
Is the Proposed Acquisition Best for Cheniere Partners
Holdings and Its Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at Cheniere Partners Holdings is undertaking a fair
process to obtain maximum value and adequately compensate its
shareholders.
As an initial matter, the $21.90 merger consideration represents
a premium of only 3.00% based on Cheniere Partners Holdings'
closing price on September 29, 2016. This premium is significantly
below the average one day premium of nearly 40.29% for comparable
transactions within the past five years. Further, the $21.90 merger
consideration is significantly below the target price of eight
individual analysts at separate firms, including the target price
of $30.00 set by an analyst at Credit Suisse on August 5, 2015; the
target price of $30.00 set by an analyst at US Capital Advisors on
September 8, 2016; and the target price of $29.00 set by an analyst
at Wolfe Research on June 21, 2016. In the last three years,
Cheniere Partners Holdings traded as high as $27.15 on May 30,
2014, and most recently traded above the merger consideration – at
$23.61 – on August 31, 2015.
Cheniere Partners Holdings shareholders have the option to file
a class action lawsuit to ensure the board of directors obtains the
best possible price for shareholders and the disclosure of material
information. Cheniere Partners Holdings shareholders interested in
information about their rights and potential remedies can contact
attorney Darnell R. Donahue at (800) 350-6003,
ddonahue@robbinsarroyo.com, or via the shareholder information form
on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20161003006570/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
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