SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Rentech Nitrogen Partners, L.P. And Enco...
13 Agosto 2015 - 9:44PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Rentech Nitrogen Partners, L.P.
(“Rentech” or the “Company”) (NYSE:RNF) relating to the proposed
buyout of the Company by CVR Partners, LP.
Under the terms of the transaction, Rentech shareholders are
anticipated to receive approximately $14.20 (1.04 units of CVR
Partners and $2.57 in cash) for each share of Rentech common stock
held. The offer represents a negative premium of -5.02%
when compared to the Rentech’s opening price of $14.94 per share on
August 12, 2015. Furthermore, according to Yahoo! Finance, at least
one Wall Street analyst has issued a price target for Rentech stock
at $22.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Rentech and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
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version on businesswire.com: http://www.businesswire.com/news/home/20150813006317/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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