STEVENSON, Md. -- (Business Wire)
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of Copano Energy L.L.C. (“Copano”
or the “Company”) (Nasdaq: “CPNO”) and other violations of state law by
the board of directors of Copano relating to the proposed acquisition of
the Company by Kinder Morgan Energy Partners, L.P. (“KMP”). The firm’s
investigation seeks to determine, among other things, whether the board
of directors of Copano breached their fiduciary duties by failing to
maximize shareholder value.
Under the terms of the proposed transaction, Copano shareholders will
receive 0.4563 of a KMP share for each share of Copano stock they own.
According to the press release announcing the transaction, this equates
to Copano shareholders receiving a consideration of $40.91 per share of
Copano common stock they own. The total purchase price is currently
being valued at $5 billion, including the assumption of debt. According
to Yahoo! Finance, the high analyst price target is $41.00 per Copano
If you currently own common stock of Copano and would like to learn more
about the investigation being conducted by Brower Piven, you may email
or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
Brower Piven, A Professional Corporation
J. Piven, 410-415-6616
Source: Brower Piven, A Professional Corporation
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