Harwood Feffer LLP Announces Investigation of K-Sea Transportation Partners L.P.
March 14 2011 - 1:24PM
Business Wire
Harwood Feffer LLP (www.hfesq.com)
is investigating potential claims against K-Sea Transportation
Partners L.P. ("K-Sea" or the "Company") (NYSE: KSP) concerning the
Company’s agreement to be acquired by Kirby Corporation (“Kirby”)
in a transaction valued at approximately $335 million. The
transaction is expected to close in the second or third quarter of
this year.
On March 13, 2011, K-Sea announced that it had entered into a
definitive merger agreement with Kirby. Under the terms of the
deal, K-Sea’s unitholders will have the option to receive $8.15 per
partnership unit in cash or $4.075 in cash and 0.0734 of a share of
Kirby common stock. Our investigation concerns whether there was a
fair process to obtain fair consideration for the unitholders of
K-Sea. KA First Reserve LLC and certain affiliates of Jeffries
Capital Partners have already entered into support agreements
pursuant to which they have agreed to vote their K-Sea units in
favor of the merger. These entities currently hold all of K-Sea’s
outstanding preferred units and approximately 59.9% of its
outstanding common units.
If you own common units of K-Sea and would like to learn more
about these claims or if you wish to discuss this matter and have
any questions or information concerning this announcement, please
contact Robert I. Harwood, Esq. at rharwood@hfesq.com or Daniella
Quitt, Esq. at dquitt@hfesq.com. You may also call them at (877)
935-7400. For more information about class actions, or to sign up
online, please visit our website: www.hfesq.com.
Harwood Feffer LLP is a national shareholder litigation firm.
Harwood Feffer LLP is devoted to protecting the interests of
individual and institutional investors in shareholder actions in
state and federal courts nationwide.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
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