Finkelstein Thompson LLP Announces Investigation of K-Sea Transportation Partners L.P.

Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of K-Sea Transportation Partners L.P. (“K-Sea” or the “Company”) (NYSE: KSP) concerning the definitive merger agreement under which K-Sea would be acquired by Kirby Corporation (NYSE: KEX) (“Kirby”), and K-Sea’s common shareholder will have the right to elect to receive either (a) $8.15 in cash; or (b) $4.075 in cash plus 0.0734 of a share of Kirby’s common stock for each common unit. K-Sea’s preferred shareholders will receive $4.075 in cash and 0.0734 of a share of Kirby’s common stock for each preferred unit. K-Sea’s general partner will receive $8.15 in cash for each general partner unit and $18 million in cash for K-Sea’s incentive distribution rights. The transaction is valued at approximately $600 million including an assumption of approximately $265 million of debt.

The investigation is focused on the potential unfairness of the consideration to K-Sea shareholders, the process by which the Board of Directors considered the transaction, and potential conflicts of interests among K-Sea Board members. K-Sea reported a book value of $11.77 per share for the most recent quarter. If you are interested in discussing your rights as a K-Sea shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.

Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.

To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.

K Sea (NYSE:KSP)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024