An investigation on behalf of investors of Andeavor (NYSE: ANDV) in connection with the proposed takeover was announced and NYSE: ANDV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/11/2018 -- The takeover of Andeavor is under investigation over potential wrongdoing.
Investors who purchased shares of Andeavor (NYSE: ANDV) and currently hold any of those NYSE: ANDV shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Andeavor breached their fiduciary duties owed to NYSE: ANDV investors in connection with the proposed acquisition.
On April 30, 2018 - Marathon Petroleum Corp. (NYSE: MPC) and Andeavor (NYSE: ANDV) announced that they have entered into a merger agreement under which Marathon Petroleum Corp will acquire all of ANDV's outstanding shares, representing a total equity value of $23.3 billion and total enterprise value of $35.6 billion, based on Marathon Petroleum Corp's April 27, 2018, closing price of $81.43. ANDV shareholders will have the option to choose 1.87 shares of Marathon Petroleum Corp stock, or $152.27 in cash subject to a proration mechanism that will result in 15 percent of ANDV's fully diluted shares receiving cash consideration.
However, given that at least one analyst has set the high target price for NYSE: ANDV shares at $160.00 per share, the investigation concerns whether the offer is unfair to NYSE: ANDV stockholders. More specifically, the investigation concerns whether the Andeavor 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.
On May 10, 2018, NYSE: ANDV shares closed at $140.67 per share.
Those who are current investors in Andeavor (NYSE: ANDV) 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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