MILWAUKEE, June 15, 2023 /PRNewswire/ -- Ademi LLP is investigating NexTier (NYSE: NEX) for possible breaches of fiduciary duty and other violations of law in its transaction with Patterson-UTI.
Click here to learn how to join the action https://www.ademilaw.com/case/nextier-oilfield-solutions-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
NexTier public stockholders are expected to receive only 0.7520 shares of Patterson-UTI common stock for each share of NexTier common stock owned. Upon closing of the transaction, Patterson-UTI shareholders will own approximately 55% and NexTier shareholders will own approximately 45% of the combined company on a fully diluted basis. The combined company will have an enterprise value of approximately $5.4 billion. The transaction agreement unreasonably limits competing bids for NexTier by imposing a significant penalty if NexTier accepts a superior bid. NexTier insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of NexTier's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for NexTier.
If you own NexTier common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/nextier-oilfield-solutions-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
