PRNewswire 17-May-2018 5:26 PM
NEW YORK, May 17, 2018
NEW YORK, May 17, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Williams Partners L.P. ("WPZ" or the "Company") (NYSE:WPZ) in connection with the proposed acquisition of the Company by The Williams Companies, Inc. ("WMB") (NYSE:WMB). On May 17, 2018, the Company announced a definitive agreement under which WMB will acquire all outstanding units of WPZ in a stock-for-unit transaction, offering WPZ unitholders 1.494 shares of WMB in exchange for each unit of WPZ they own. This represents consideration of $41.84 per WPZ unit, based on WMB's May 17 closing price of $28.01.
WeissLaw is investigating whether WPZ's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $51.00 per WPZ unit, or nearly $10.00 above the per-unit consideration.
Given these facts, WeissLaw is investigating whether WPZ's Board acted in the best interests of WPZ's public shareholders to maximize shareholder value prior to entering into the agreement. If you own WPZ units 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 firstname.lastname@example.org.
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 email@example.com or fill out the form on our website, http://www.weisslawllp.com/williams-partners-l-p/
SOURCE WeissLaw LLP
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