NEW YORK, March 10, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Whiting Petroleum Corporation ("Whiting" or the "Company") (NYSE: WLL) in connection with the proposed merger of the Company with Oasis Petroleum Inc. ("Oasis") (NASDAQ: OAS). Under the terms of the merger agreement, the Company's shareholders will receive 0.5774 shares of Oasis plus $6.25 in cash for each share of Whiting common stock owned, representing implied per-share merger consideration of approximately $91.53 based upon Oasis's March 10, 2022 closing price of $147.69. Additionally, Oasis shareholders will receive a special dividend of $15.00 per share. Upon completion of the transaction, Whiting shareholders will own approximately 53% of the combined company, while Oasis shareholders will own 47% of the combined company. The transaction is valued at approximately $6 billion.
If you own Whiting shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/wll
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating whether: (i) Whiting's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Whiting's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law 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
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SOURCE WeissLaw LLP
