Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Encore Acquisition Company
Business Wire
Nov 02, 2009
Law Offices of Howard G. Smith announces that it is investigating
potential claims against the board of directors of Encore Acquisition
Company (“Encore” or the “Company”) (NYSE:EAC) for possible breaches of
fiduciary duty and other violations of state law in connection with
their attempt to sell the Company to Denbury Resources, Inc. at a price
of $50.00 per share in cash and stock (“Denbury”) (NYSE: DNR).
The investigation concerns the price to be paid by Denbury to Encore
shareholders and the process by which Encore’s Board of Directors is
addressing the transaction. Under the terms of the proposed transaction,
Encore shareholders will receive $15.00 in cash and $35.00 in Denbury
common stock for each Encore share owned. The proposed transaction
appears to be unfair to Encore’s shareholders given that the stock
portion of the consideration to be paid to Encore shareholders is
subject to an election feature and a price collar mechanism.
If you own shares of Encore, if you have information or would like to
learn more about these claims, or if you wish to discuss these matters
or have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or visit www.howardsmithlaw.com.
You may also email my firm at howardsmith@howardsmithlaw.com.
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