Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Mariner Energy, Inc. (“Mariner” or the “Company”) (NYSE: ME) arising from the Company’s announcement of its intent to merger with Apache Corporation (“Apache”) (NYSE, Nasdaq: APA). Under the terms of the agreement, Mariner shareholders will receive 0.17043 of a share of Apache common stock and $7.80 in cash for each outstanding share of Mariner’s common stock that they own. At Apache’s closing price of $108.06 of April 14, 2010, the transaction values Mariner’s shares at $26.22 for a total transaction value of $2.7 billion.
The investigation is focused on the potential unfairness of the consideration to Mariner’s shareholders and the process by which the Mariner Board of Directors considered and approved the transaction. Mariner saw a greatly improved fiscal 2009, including a substantial increase in net income and in estimated proved oil and gas reserves. Further, the Company’s proved reserves do not yet reflect contribution from deepwater discoveries, which the Company believes will significantly enhance reserves and production in future years.
If you are interested in discussing your rights as a Mariner shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at email@example.com.
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