An investigation for investors in NYSE:CWEI shares was announced concerning whether buyout of Clayton Williams Energy, Inc. by Noble Energy, Inc for $34.75 per share is unfair to NYSE:CWEI stockholders.
Investors who purchased shares of Clayton Williams Energy, Inc. (NYSE:CWEI) and currently hold any of those NYSE:CWEI 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 officers and directors of Clayton Williams Energy, Inc. breached their fiduciary duties owed to NYSE:CWEI investors in connection with the proposed acquisition.
On January 16, 2017 Noble Energy, Inc. (NYSE:NBL) and Clayton Williams Energy, Inc. (NYSE:CWEI) announced that the Boards of Directors of both companies have approved and the companies have executed an agreement under which Noble Energy will acquire all of the outstanding common stock of Clayton Williams Energy, Inc. for $2.7 billion in Noble Energy stock and cash. Under the terms of the transaction Clayton Williams Energy, Inc. shareholders will receive 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held. Based on Noble Energy’s closing stock price as of January 13, 2017, Clayton Williams Energy, Inc shareholders will receive a value of approximately $139 per NYSE:CWEI share.
However, given that NYSE:CWEI shares rose after the takeover announcement to as high as $149.00 per share on January 19, 2017, the investigation concerns whether the offer is unfair to NYSE:CWEI stockholders. More specifically, the investigation concerns whether the Clayton Williams 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.
In addition, given that funds managed by Ares Management, L.P., which owned approximately 35% of the outstanding shares of Clayton Williams Energy as of December 31, 2016, have already entered into a support agreement to vote in favor of the transaction, the
On January 30, 2017, NYSE:CWEI shares closed at $144.27 per share.
Those who are current investors in NYSE:CWEI shares have certain options and should contact the Shareholders Foundation.
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