Finkelstein Thompson LLP Announces Investigation of Mariner Energy
April 16 2010 - 1:52PM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Mariner Energy, Inc. (“Mariner” or the
“Company”) (NYSE: ME) arising from the Company’s announcement of
its intent to merger with Apache Corporation (“Apache”) (NYSE,
Nasdaq: APA). Under the terms of the agreement, Mariner
shareholders will receive 0.17043 of a share of Apache common stock
and $7.80 in cash for each outstanding share of Mariner’s common
stock that they own. At Apache’s closing price of $108.06 of April
14, 2010, the transaction values Mariner’s shares at $26.22 for a
total transaction value of $2.7 billion.
The investigation is focused on the potential unfairness of the
consideration to Mariner’s shareholders and the process by which
the Mariner Board of Directors considered and approved the
transaction. Mariner saw a greatly improved fiscal 2009, including
a substantial increase in net income and in estimated proved oil
and gas reserves. Further, the Company’s proved reserves do not yet
reflect contribution from deepwater discoveries, which the Company
believes will significantly enhance reserves and production in
future years.
If you are interested in discussing your rights as a Mariner
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson's Washington, DC offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
web site at www.finkelsteinthompson.com. Attorney
advertising. Prior results do not guarantee similar outcomes.
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