Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Bronco Drilling Company, Inc. (“Bronco Drilling” or the “Company”) (NasdaqGS: BRNC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Chesapeake Energy Corporation (NYSE: CHK) for approximately $315 million, including debt. The proposed transaction offers Bronco Drilling shareholders $11 per share in cash in exchange for each Bronco Drilling share they hold. According to Yahoo! Finance, at least one financial analyst values Bronco Drilling at $13.50 a share.
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Whether the Bronco Drilling’s Board of Directors breached their fiduciary duties to Bronco Drilling’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Bronco Drilling’s shares and by how much this proposed transaction undervalues the Company to the detriment of Bronco Drilling shareholders are the key focus of this investigation.
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If you own common stock in Bronco Drilling and wish to obtain additional information, please visit us at
or contact Juan E. Monteverde, Esq. either via e-mail at
or by telephone at (877) 247-4292 or (212) 983-9330.
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