Investigation announced for Investors in shares of Noble Energy, Inc. (NASDAQ: NBL) over Takeover
Investors who purchased shares of Noble Energy, Inc. (NASDAQ: NBL) and currently hold any of those NASDAQ: NBL shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Noble Energy, Inc. breached their fiduciary duties owed to NASDAQ: NBL investors in connection with the proposed acquisition.
Houston, TX based Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and natural gas worldwide. On July 20, 2020, Chevron Corporation (NYSE: CVX) announced that it has entered into an agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevron’s closing price on July 17, 2020 and under the terms of the agreement, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share.
However, at given that at least one analyst has set the high target price for NASDAQ: NBL shares at $25.00 per share and given that NASDAQ: NBL shares traded in early 2020 as high as $24.41 per share, the investigation concerns whether the offer is unfair to Noble Energy, Inc. (NASDAQ: NBL stockholders. More specifically, the investigation concerns whether the Noble Energy, Inc. (NASDAQ: NBL Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Noble Energy, Inc. (NASDAQ: NBL) closed on August 5, 2020, at $10.42 per share.
Those who are current investors in Noble Energy, Inc. (NASDAQ: NBL) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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