STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Oiltanking Partners, L.P. (“Oiltanking” or the “Company”) (NYSE: OILT) relating to the proposed buyout of the Company by Enterprise Products Partners L.P. (“Enterprise”).
On November 12, 2014, Oiltanking and Enterprise announced the signing of a merger agreement pursuant to which Enterprise will acquire Oiltanking in an all stock transaction. Under the terms of the transaction, Oiltanking unitholders will receive 1.3 Enterprise units for each Oiltanking common unit they own. The transaction is expected to close in early 2015, though Oiltanking shareholders will most likely be asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether the Board of Directors of Oiltanking failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company.
If you currently own Oiltanking units and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.