Investigation announced for Investors in Montage Resources Corporation (NYSE: MR) over Takeover

An investigation was announced concerning whether the takeover of Montage Resources Corporation is unfair to NYSE: MR stockholders.

Investors who purchased shares of Montage Resources Corporation (NYSE: MR) and currently hold any of those Montage Resources Corporation (NYSE: MR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Montage Resources Corporation breached their fiduciary duties owed to NYSE: MR investors in connection with the proposed acquisition.

Irving, TX based Montage Resources Corporation operates as an oil and natural gas exploration and production company in the United States. On August 12, 2020, Southwestern Energy Company (NYSE: SWN) and Montage Resources Corporation (NYSE: MR) announced that they have entered into a merger agreement under which Southwestern Energy will acquire Montage Resources in an all-stock transaction. Based on the 3-day average closing share prices of the companies as of August 11, 2020 and under the terms of the agreement, Montage Resources shareholders will receive 1.8656 shares of Southwestern for each Montage Resources share, or a value of approximately $5.59 per NYSE: MR share.

However, given that at least on analyst has set the high price target at $11.00 per share, the investigation concerns whether the offer is unfair to NYSE: MR stockholders. More specifically, the investigation concerns whether the Montage Resources 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.

Montage Resources Corporation reported that its annual Total Revenue rose from $515.14 million in 2018 to $634.44 million in 2019, and that its Net Income increased from $18.82 million in 2018 to $31.76 million in 2019.

Shares of Montage Resources Corporation (NYSE: MR) reached as high as $17.70 per share in early 2019.

On August 20, 2020, NYSE: MR shares closed at $7.49 per share.

Those who are current investors in Montage Resources Corporation (NYSE: MR) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
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.

This release was published on openPR.