NEW YORK, June 2, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Atwood Oceanics,
Inc. ("ATW" or the "Company") (NYSE: ATW) in connection with the
proposed merger of the Company with Ensco Plc ("Ensco").
Under the terms of the agreement, the Company's shareholders
will receive 1.60 shares of Ensco for each ATW share they own,
representing consideration of $10.72
based on Ensco's May 26 closing
price.
WeissLaw is investigating whether ATW's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $18.00 per share, or nearly $8.00 above the consideration price.
Additionally, upon closing, ATW shareholders will own a meager 31%
of the combined companies.
Given these facts, WeissLaw is investigating whether ATW
shareholders will obtain their fair and proportionate share of the
Company's continued success and future growth prospects. If
you own ATW shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/atwood-oceanics-inc/
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SOURCE WeissLaw LLP