Robbins Arroyo LLP: Acquisition of JP Energy Partners LP (JPEP) by American Midstream Partners, LP (AMID) May Not Be in Unith...
October 25 2016 - 12:53PM
Business Wire
Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of JP Energy Partners LP
(NYSE: JPEP) by American Midstream Partners, LP (NYSE: AMID). On
October 24, 2016, the two companies announced the signing of a
definitive merger agreement pursuant to which American Midstream
will combine with JP Energy Partners. Under the terms of the
agreement, JP Energy Partners unitholders will receive 0.5775 units
of American Midstream with a value of $8.63 for each common unit of
JP Energy Partners.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/jp-energy-partners-lp
Is the Proposed Acquisition Best for JP Energy Partners and
Its Unitholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at JP Energy Partners is undertaking a fair process to
obtain maximum value and adequately compensate its unitholders.
As an initial matter, the $8.63 merger consideration represents
a premium of only 14.5% based on JP Energy Partners' closing price
on October 21, 2016. This premium is significantly below the
average one day premium of nearly 122.69% for comparable
transactions within the past three years. Further, the $8.63 merger
consideration is significantly below the target price of $10.75 set
by an analyst at D.A. Davidson & Co. on October 6, 2016. In the
last three years, JP Energy Partners traded as high as $20.71 on
October 2, 2014, and most recently traded above the merger
consideration – at $8.82 – on August 9, 2016.
JP Energy Partners unitholders have the option to file a class
action lawsuit to ensure the board of directors obtains the best
possible price for unitholders and the disclosure of material
information. JP Energy Partners unitholders 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161025006400/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
JP ENERGY PARTNERS LP (NYSE:JPEP)
Historical Stock Chart
From Mar 2024 to Apr 2024
JP ENERGY PARTNERS LP (NYSE:JPEP)
Historical Stock Chart
From Apr 2023 to Apr 2024