Kendall Law Group Investigates Encore Energy Partners LP for Shareholders
DALLAS--(BUSINESS WIRE)--Kendall Law Group, led by former federal judge Joe Kendall, is investigating Encore Energy Partners LP (NYSE:ENP) for shareholders in connection with a proposal from Vanguard Natural Resources LLP (NYSE:VNR). The national securities firm’s investigation seeks to determine whether Encore Energy and its Board is properly shopping for a deal that would provide better value for shareholders. If you are an Encore Energy shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On March 25, 2011, Encore Energy announced that it had received a proposal from Vanguard to acquire all outstanding shares of Encore Energy in a unit-for-unit exchange valued at $567 million. Vanguard already owns 100% of Encore Energy’s general partner and approximately 46% of Encore Energy. The proposal would exchange 0.72 Vanguard common units per Encore Energy common unit. Based on closing price of ENP and VNR on the day before the deal was announced, this represents a value of $23.20 per ENP unit held. Because this is just pennies over the $23.15 closing price on the 24th, the firm believes this proposal does not provide the best value available to shareholders.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.