Law Offices of Howard G. Smith Announces Investigation On Behalf of Unitholders of Inergy Holdings, L.P.
August 09 2010 - 8:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Inergy Holdings, L.P. (“Inergy Holdings” or the “Company”)
(NASDAQ:NRGP) related to the Company’s agreement to merge with
Inergy, L.P. (“NRGY”). The proposed transaction is valued at
approximately $2.1 billion.
Under the terms of the definitive agreement entered into by the
parties, unitholders of Inergy Holdings will receive 0.77 common
units of NRGY in exchange for each Inergy Holdings common unit they
own at closing. The merger is subject to approval by a majority
vote of the outstanding limited partnership units of Inergy
Holdings, which is expected to be held in the fourth quarter of
2010. Certain members of management who control over 50% of Inergy
Holdings’ limited partnership units have committed to vote in favor
of the merger. Upon closing of the merger, the former owners of
Inergy Holdings will own approximately 44% of the combined company.
The investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the proposed
transaction by Inergy Holdings’ board of directors.
If you are a unitholder of Inergy Holdings, L.P., 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 by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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