NEW YORK, Dec. 13, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential legal claims against the Board of Directors of UNS Energy Corporation ("UNS" or the "Company") (UNS) concerning the sale of the Company to Fortis Inc. in a transaction valued at about $ 2.5 Billion. The deal will also see Fortis take on about $1.8 billion of UNS debt. It is expected to close by the end of 2014.
Under the terms of the agreement, shareholders of UNS will receive $60.25 per share in cash for each share of UNS own.
Our investigation concerns possible breaches of fiduciary duty and other violations of law by UNS's Board of Directors for not acting in the best interest of the Company's shareholders in connection with the sale process.
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SOURCE Morgan & Morgan