Energy News / Shareholders Foundation, Inc.

NYSE:SXCP Investor Alert: Investigation of Takeover of SunCoke Energy Partners, L.P.

Via: ReleaseWire

Updated 11:15 AM CST, Mon, February 11,2019

An investigation on behalf of investors of SunCoke Energy Partners, L.P. (NYSE: SXCP) in connection with the proposed takeover was announced and NYSE: SXCP unitholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 02/11/2019 -- The takeover of SunCoke Energy Partners, L.P. is under investigation concerning potential breaches of fiduciary duties by certain directors of SunCoke Energy Partners, L.P.

Investors who purchased units of SunCoke Energy Partners, L.P. (NYSE: SXCP) and currently hold any of those NYSE: SXCP units have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain directors of SunCoke Energy Partners, L.P. breached their fiduciary duties owed to NYSE: SXCP investors in connection with the proposed acquisition.

Lisle, IL based SunCoke Energy Partners, L.P., a master limited partnership, produces and sells coke used in the blast furnace production of steel in the United States. On February 5, 2019, SunCoke Energy, Inc. (NYSE: SXC) and SunCoke Energy Partners, L.P. (NYSE: SXCP) announced that they have entered into an agreement whereby SunCoke Energy, Inc will acquire all outstanding common units of SunCoke Energy Partners, L.P. not already owned by SunCoke Energy, Inc in a stock-for-unit merger transaction. Pursuant to the terms of the merger agreement, SunCoke Energy Partners, L.P. unaffiliated common unitholders will receive 1.40 SunCoke Energy, Inc (NYSE: SXC) common shares for each SunCoke Energy Partners, L.P. common unit, or a value of approximately $15.3 per NYSE: SXCP unit.

Howevwer, given that at least one analyst has set the high target price for NYSE: SXCP units at $20.00 per unit and given that NYSE: SXCP units traded as high as $21.95 per unit, the investigation concerns whether the offer is unfair to NYSE: SXCP unitholders. In addition, given that SunCoke Energy, Inc indirectly already owns a sufficient percentage of the SunCoke Energy Partners, L.P. common units to approve the transaction on behalf of the holders of SunCoke Energy Partners, L.P. common units, the investigation concerns whether the SunCoke Energy Partners 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.

Units of SunCoke Energy Partners, L.P. (NYSE: SXCP) closed on February 8, 2019 at $14.72 per unit.

Those who are current investors in SunCoke Energy Partners, L.P. (NYSE: SXCP) units have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

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.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysesxcp-investor-alert-investigation-of-takeover-of-suncoke-energy-partners-lp-1143868.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com