An investigation on behalf of investors of Resolute Energy Corporation (NYSE: REN) in connection with the proposed takeover was announced and NYSE: REN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/28/2018 -- The takeover of Resolute Energy Corporation is under investigation concerning possible breaches of fiduciary duties.
Investors who purchased shares of Resolute Energy Corporation (NYSE: REN) and currently hold any of those NYSE: REN shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Resolute Energy Corporation breached their fiduciary duties owed to NYSE: REN investors in connection with the proposed acquisition.
Denver, CO based Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States.
On Nov. 19, 2018, Cimarex (NYSE: XEC) and Resolute Energy Corporation (NYSE: REN) announced that Cimarex has entered into an agreement to acquire Resolute Energy Corporation in a cash and stock transaction valued at $35.00 per share, or a total purchase price of approximately $1.6 billion, including Resolute's long term debt of $710 million, as of September 30, 2018.
However, given that at least one analyst has se the high target price for NYSE: REN shares at $62.80 per share and given that NYSE: REN shares reached as recently as October 3, 2018 as high as $38.96 per share in the open market, the investigation concerns whether the offer is unfair to NYSE: REN stockholders. More specifically, the investigation concerns whether the Resolute 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 Resolute Energy Corporation (NYSE: REN) closed on November 27, 2018, at $33.80 per share.
Those who are current investors in Resolute Energy Corporation (NYSE: REN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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