WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Atwood Oceanics, Inc. (“ATW” or the “Company”) in connection with the proposed merger of the Company with Ensco Plc (“Ensco”). Under the terms of the agreement, the Company’s shareholders will receive 1.60 shares of Ensco for each ATW share they own, representing consideration of $10.72 based on Ensco’s May 26 closing price.
WeissLaw is investigating whether ATW’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $18.00 per share, or nearly $8.00 above the consideration price. Additionally, upon closing, ATW shareholders will own a meager 31% of the combined companies.
Given these facts, WeissLaw is investigating whether ATW shareholders will obtain their fair and proportionate share of the Company’s continued success and future growth prospects. If you own ATW shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/atwood-oceanics-inc/