Kendall Law Group Investigating CNX Gas Corporation Merger for Shareholders
23 Marzo 2010 - 5:09PM
Business Wire
Kendall Law Group is investigating the CNX Gas Corporation
(NYSE:CXG) merger with CONSOL Energy Inc. for shareholders. The
national securities litigation firm is investigating whether a fair
process was used prior to entering into the merger agreement and
whether the CNX Board of Directors breached their fiduciary duties
by not seeking a deal that would provide better value of the
Company. CXG shareholders are encouraged to contact the Kendall Law
Group at 877-744-3728 or by email at
hlindley@kendalllawgroup.com.
On March 21, 2010, CONSOL announced that it had entered into an
agreement to purchase the remaining shares of CNX Gas Corporation
that it does not currently own. According to the agreement, CONSOL
will pay $38.25 per CXG share for the 9.5 million shares that are
currently owned by investment advisory clients of T. Rowe Price
Associates, Inc. This represents a 24% premium over the closing
price on March 19, 2010. CXG closed at $35.45 as recently as
October 20, 2010.
Kendall Law Group, founded by a former federal judge, and
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in many merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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