Kendall Law Group, led by former federal judge Joe Kendall, is investigating Penn Virginia GP Holdings, L.P. (NYSE: PVG) for unitholders in connection with the proposed acquisition by Penn Virginia Resource Partners, L.P. (PVR). The national securities firm’s investigation seeks to determine whether Penn Virginia GP and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for unitholders. If you are a Penn Virginia GP unitholder 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 September 21, 2010, the companies announced that they had entered into a definitive merger agreement under which Penn Virginia GP would be acquired by PVR in a transaction valued at approximately $954.5 million. Under the terms of the agreement, Penn Virginia GP unitholders will receive 0.98 PVR limited partnership units for each limited partnership unit of Penn Virginia GP/PVG held. According to Thompson/First Call, at least one analyst has set a price target of $28.00 per PVG unit. Due to these factors, the firm believes the transaction significantly undervalues the company.
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.