NEW YORK, April 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Susser Holdings Corporation ("Susser" or the "Company") (NYSE: SUSS) (ISIN: US8692331064) (CUSIP: 869233106) concerning the proposed acquisition of Susser by Energy Transfer Partners, L.P. ("ETP").
Susser shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The investigation concerns whether the Susser directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, shareholders of Susser will have the option to elect to receive either $80.25 in cash or 1.4506 ETP common units, or a combination of both, for each share held. The shareholder election is subject to proration to ensure that aggregate cash paid and common units issued will each represent 50% of the aggregate merger consideration. However, Susser management may stay on following the close of the proposed acquisition. Additionally, voting agreements on the merger representing 10% of the shares are already in place.
Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 237
SOURCE Pomerantz LLP