Investigation announced for Investors in Concho Resources Inc. (NYSE: CXO) over Takeover

An investigation was announced concerning whether the takeover of Concho Resources Inc. is unfair to NYSE: CXO stockholders.

Investors who purchased shares of Concho Resources Inc. (NYSE: CXO) and currently hold any of those NYSE: CXO 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 Concho Resources Inc. breached their fiduciary duties owed to NYSE: CXO investors in connection with the proposed acquisition.

Midland, TX based Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. On October 19, 2020, Concho Resources Inc. announced that they had entered into a merger agreement with ConocoPhillips. Under the terms of the transaction, each share of Concho Resources Inc. common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock. Based on ConocoPhillips' closing stock price on October 16, 2020, the implied stock consideration to be received by Concho Resources Inc's stockholders is $49.30 per share.

However, given that at least one analyst has set the high target price for NYSE: CXO shares at $99.00 per share, the investigation concerns whether the offer is unfair to NYSE: CXO stockholders. More specifically, the investigation concerns whether the Concho 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.

Those who are current investors in Concho Resources Inc. (NYSE: CXO) 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.