WILMINGTON, Del., April 28, 2014 /PRNewswire/ -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breaches of fiduciary duty claims against the Board of Directors of Susser Holdings Corporation ("Susser" or the "Company") (NYSE: SUSS) relating to the sale of the Company to Energy Transfer Partners, L.P. (NYSE: ETP) ("Energy Transfer"). On April 28, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Energy Transfer will acquire Susser in a merger valued at roughly $1.8 billion. As a result of the merger, Energy Transfer will own Susser's general partner, Susser Petroleum Partners LP (NYSE: SUSP). According to the merger agreement, Susser shareholders, in exchange for each common share they own will receive either $80.25 per share in cash or 1.4506 Energy Transfer common units subject to proration.
Our investigation to date has revealed that the consideration that Susser shareholders are expected to receive is inadequate and fails to compensate investors for the anticipated dilution that Susser shareholders are being asked to accept. The timing of the merger announcement is also suspect considering almost two months ago the Company announced that Steve DeSutter, the President and CEO of Susser's Retail division resigned to lead another company outside of the convenience store industry.
If you own shares of Susser and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/susser/ Craig J. Springer, Esq. at [email protected] or call toll free at 1-800-423-6013. This notice may constitute attorney advertising.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud and breaches of fiduciary duty. Our Firm's practice model consists of retaining a small select group of high caliber attorneys who are committed to protecting shareholder rights and litigating cutting-edge issues affecting shareholder rights. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for our clients. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute.
SOURCE Andrews & Springer LLC