NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Enable Midstream Partners, LP (NYSE: ENBL) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Energy Transfer LP (NYSE: ET).
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On February 17, 2021, Enable announced that it had signed an agreement to be acquired by Energy Transfer in an all-stock merger valued at approximately $7.2 billion. Pursuant to the merger agreement, Enable stockholders will receive 0.8595 shares of Energy Transfer common stock for each share of Enable common stock owned. In addition, holders of Enable series A preferred stock will receive 0.0265 shares of Energy Transfer series G preferred stock. The deal is scheduled to close in mid-2021.
Bragar Eagel & Squire is concerned that Enable’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Enable’s stockholders.
If you own shares of Enable and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.