MILWAUKEE--(BUSINESS WIRE)--Ademi LLP is investigating EnLink (NYSE: ENLC) for possible breaches of fiduciary duty and other violations of law in its transaction with ONEOK.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, the unitholders of EnLink will receive only 0.1412 shares of ONEOK common stock for each outstanding common unit of EnLink. The exchange ratio was derived by dividing $15.75 per unit, equal to EnLink’s market close price on Nov. 22, 2024, by ONEOK’s 10-day volume-weighted average price.
The transaction agreement unreasonably limits competing transactions for EnLink by imposing a significant penalty if EnLink accepts a competing bid. EnLink insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of EnLink’s board of directors, and whether they are fulfilling their fiduciary duties to all unitholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
