An investigation for shareholders in FX Energy, Inc. (NASDAQ:FXEN) in connection with the proposed takeover was announced and NASDAQ:FXEN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (ReleaseWire) -- 11/02/2015 -- An investigation for shareholders in NASDAQ:FXEN shares was announced concerning whether the takeover of FX Energy, Inc. by ORLEN Upstream Sp. z o.o is unfair to NASDAQ:FXEN stockholders.
Investors who purchased shares of FX Energy, Inc. (NASDAQ:FXEN) and currently hold any of those NASDAQ:FXEN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of FX Energy, Inc. breached their fiduciary duties owed to NASDAQ:FXEN investors in connection with the proposed acquisition.
On October 13, 2015, FX Energy, Inc. (NASDAQ:FXEN) announced that it has entered into a merger agreement pursuant to which ORLEN Upstream Sp. z o.o. will acquire all of the outstanding shares of common stock of FX Energy. ORLEN Upstream is the wholly-owned exploration and production subsidiary of PKN ORLEN SA (GPW: PKN). In the transaction, holders of FX Energy common stock will receive consideration of $1.15 per share in cash.
However, given that NASDAQ:FXEN shares traded in early 2015 as high as $2.40 per share, the investigation concerns whether the offer is unfair to NASDAQ:FXEN stockholders. More specifically, the investigation concerns whether the FX Energy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale. Shares of FX Energy, Inc. (NASDAQ:FXEN) reached in 2014 as high as $5.00 per share.
On October 30, 2015, NASDAQ:FXEN shares closed at $1.13 per share.
Those who are current investors in FX Energy, Inc. (NASDAQ:FXEN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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