EPL Oil & Gas, Inc ("EPL") announced that it has entered into a merger agreement with Energy XXI. Under the terms of the proposed EPL merger agreement, EPL shareholders will receive a total value estimated at $39 per share. The transaction is valued at approximately $2.3 billion.
The EPL merger raises an obvious question: Is this the best the EPL’s board could do? If you own the common stock of EPL and are concerned about the transaction and would like to learn more about how to begin a cost-free corporate review of this merger, please fill out the contact form on this web page or call Attorney George Pressly at 1-(800)-631-6234.
Is the transaction structured to maximize value of EPL’s shareholders? Does the EPL merger agreement contain an unfair termination provision? Does the merger agreement limit the ability of EPL to obtain additional suitors or to accept additional proposals? Did the EPL board of directors obtain a fairness opinion from an independent investment bank? What did the independent fairness show? Did the board of directors engage other potential suitors? Will there be full disclosure regarding future executive compensation packages?
State security laws provide shareholders a no cost means to question a proposed sale of a publicly traded company. This review process is deemed a shareholder class action and affords at times shareholders an avenue to investigate fully the proposed transaction. At minimum, this process often obtains answers to the above questions. If you own the common stock of EPL and if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please fill out the contact form on this web page.