Kendall Law Group, led by former federal judge Joe Kendall, is investigating Union Drilling, Inc. (NASDAQ: UDRL) for shareholders in connection with the proposed acquisition by Sidewinder Drilling Inc. The national securities firm’s investigation seeks to determine whether Union Drilling 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 Union Drilling shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On September 25, 2012, the companies announced the definitive merger agreement under which Union Drilling would be acquired by Sidewinder Drilling, controlled by private equity firm Avista Capital Partners, in a transaction valued at approximately $139 million. Under the terms of the agreement, Union Drilling stockholders will receive $6.50 in cash for each share of Union Drilling/UDRL common stock held. The offer price represents a premium of approximately 6 percent to Union Drilling's Monday closing price of $6.13. The firm’s investigation seeks to determine whether Union Drilling and its Board undertook a fair process in negotiating the deal.
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.