NEW YORK, Aug. 15, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Tesco Corporation
("TESO" or the "Company") (NASDAQ: TESO) in connection with the
proposed acquisition of the Company by Nabors Industries Ltd.
("NBR") (NYSE: NBR). Under the terms of the acquisition
agreement, the Company's shareholders will receive 0.68 of a share
of NBR for each TESO share they own, representing consideration of
$4.51 based on NBR's August 14 closing price.
WeissLaw is investigating whether TESO's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, TESO shares traded at $4.80,
or nearly $0.30 above the per-share
consideration, two weeks ago on August 1. Additionally, at
least one analyst set a target price of $9.00, or $4.49
above the per-share consideration. Finally, upon completion
of the transaction, TESO shareholders will own a meagre 10% of the
outstanding NBR shares.
Given these facts, WeissLaw is investigating whether TESO's
shareholders will obtain their fair and proportionate share of the
Company's continued success and future growth prospects. If
you own TESO shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/tesco-corporation/
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SOURCE WeissLaw LLP