APACHE CORP. SHAREHOLDER ALERT: Wolf Haldenstein Adler Freeman & Herz LLP Investigates Rejection of Takeover Offer by Apache ...
November 12 2015 - 6:00PM
Business Wire
Wolf Haldenstein Adler Freeman & Herz LLP is investigating
the reported rejection by the Board of Directors of Apache Corp.
(NYSE:APA) (“Apache” or the “Company”) of a takeover offer received
from Anadarko Petroleum Corp. (“Anadarko”).
On November 8, 2015, it was reported that Apache had received a
takeover offer from Anadarko and hired Goldman Sachs to help defend
the Company from the unsolicited offer. On this news, Apache closed
at $53.94, up $6.27 for the day.
On November 11, 2015, Anadarko released a statement confirming
that it sent Apache a non-binding offer to acquire the company, and
that Apache rejected the proposal outright without offering any
opportunity for further discussion that might lead to a merger
benefitting Apache shareholders. Apache shares closed at $49.40,
down $3.91 for the day, erasing a large portion of the gain accrued
on November 8th.
Wolf Haldenstein is investigating whether the Board of Directors
of Apache breached their fiduciary duties to stockholders by
declining to enter into merger discussions that could be to the
ultimate benefit of Apache shareholders.
Wolf Haldenstein has represented individual and institutional
investors for many years, serving as lead counsel in numerous cases
in United States federal and state courts. Please visit the Wolf
Haldenstein website (http://www.whafh.com) for more information
about the firm.
If you are a shareholder of Apache Corp. we urge you to contact
Wolf Haldenstein. If you would like additional information
concerning your rights in this matter, please contact us
immediately.
Attorney Advertising. Prior results do not guarantee or predict
a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20151112006522/en/
Wolf Haldenstein Adler Freeman & Herz LLPKevin Cooper ,
Esq.orGregory Stone, Director of Case and Financial
Analysisclassmember@whafh.com, gstone@whafh.com, or
kcooper@whafh.com800-575-0735212-545-4774212-545-4600
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