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 Andeavor (NYSE: ANDV) (“Andeavor” or the “Company”) relating to the proposed buyout of Andeavor by Marathon Petroleum Corp.
Under the terms of the agreement, Andeavor shareholders will have the option to receive 1.87 shares of Marathon common stock or $152.27 in cash for each share of Andeavor common stock held, subject to a proration mechanism that will result in 15 percent of Andeavor’s fully diluted shares receiving cash consideration.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock.
If you currently own common stock of Andeavor and believe that the proposed buyout price is too low, and you would like to learn more about the investigation being conducted, without cost or obligation to you, please contact 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.