Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Mariner Energy, Inc. (“Mariner Energy” or the “Company”) (NYSE:ME) related to the Company’s agreement to be acquired by Apache Corporation (“Apache Corp.”) in a proposed cash-and-stock transaction valued at approximately $4 billion, including assumed debt.
Under the terms of the merger agreement entered into by the parties, Mariner Energy shareholders will receive $7.80 in cash and 0.17043 shares of Apache Corp. common stock for each share of Mariner Energy common stock they own. Based on Apache Corp.’s closing price of $108.06 per share on April 14, 2010, the proposed transaction values Mariner Energy shares at $26.22 per share. The transaction is expected to be completed in the third quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Mariner Energy’s board of directors.
If you own shares of Mariner Energy, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.