Kendall Law Group Investigates Superior Well Services, Inc. Merger For Shareholders
Kendall Law Group, a national securities firm led by a former federal judge, with attorneys that include a former U.S. Attorney, is investigating Superior Well Services, Inc. (NASDAQ: SWSI) for shareholders in connection with the proposed acquisition by Nabors Industry, Inc. The firm’s investigation seeks to determine whether Superior Well Services and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Superior shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On August 9, 2010, the companies announced that they have entered into a definitive merger agreement whereby Nabors will acquire Superior Well Services through a tender offer and second-step merger. The initial tender offer is for all outstanding shares of Superior common stock at a price of $22.12 per share in cash at a total value of approximately $900 million. Although Gene Isenberg, Nabors' Chairman and CEO, stated that, "Superior Well Services possesses one of the newest fleets in the industry…high quality fleet is operated by a very capable, well managed organization that can quickly become a substantial unit of Nabors,” the transaction represents only an approximately 17% premium over Superior’s August 6 closing price. Superior also released their second quarter 2010 results, noting increased revenue “from the $123.3 million reported in the previous quarter and a 94.5% increase from the $90.5 million reported in the second quarter of 2009” to $176.0 million in the second quarter of 2010. In addition, according to Thompson/First Call, at least one analyst has set a price target of $25.00 per share for Superior stock.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV