STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Copano Energy L.L.C. (“Copano” or the “Company”) (Nasdaq: “CPNO”) and other violations of state law by the board of directors of Copano relating to the proposed acquisition of the Company by Kinder Morgan Energy Partners, L.P. (“KMP”). The firm’s investigation seeks to determine, among other things, whether the board of directors of Copano breached their fiduciary duties by failing to maximize shareholder value.
Under the terms of the proposed transaction, Copano shareholders will receive 0.4563 of a KMP share for each share of Copano stock they own. According to the press release announcing the transaction, this equates to Copano shareholders receiving a consideration of $40.91 per share of Copano common stock they own. The total purchase price is currently being valued at $5 billion, including the assumption of debt. According to Yahoo! Finance, the high analyst price target is $41.00 per Copano share.
If you currently own common stock of Copano and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at firstname.lastname@example.org, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.