MAGELLAN MIDSTREAM PARTNERS, L.P. MILWAUKEE, May 15, 2023 /PRNewswire/ -- Ademi LLP is investigating Magellan (NYSE: MMP) for possible breaches of fiduciary duty and other violations of law in its transaction with ONEOK.
Click here to learn how to join the action https://www.ademilaw.com/case/magellan-midstream-partners-lp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Magellan public stockholders are expected to receive only $25.00 in cash and 0.6670 shares of ONEOK common stock for each outstanding Magellan common unit, representing a current implied value to each Magellan unitholder of $67.50 per unit, based on May 12, 2023 closing prices. The transaction agreement unreasonably limits competing bids for Magellan by imposing a significant penalty if Magellan accepts a superior bid. Magellan insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Magellan's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Magellan.
If you own Magellan common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/magellan-midstream-partners-lp.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
