We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of BP Midstream Partners LP (“BPMP” or the “Partnership”)(NYSE: BPMP) in connection with the proposed acquisition of the Partnership by BP p.l.c. and its affiliates(“BP”). Under the terms of the merger agreement, a BP U.S. affiliate will acquire all outstanding common units of BPMP not already owned directly or indirectly by BP (the “Public Common Units”), representing 47,837,828 common units. Each unitholder of the Public Common Units would receive 0.575 of an American Depositary Share of BP in exchange for each Public Common Unit owned.
WeissLaw LLP is investigating whether (i) BPMP’s board acted in the best interest of BPMP’s unitholders in agreeing to the proposed transaction, (ii) the merger consideration is fair to the Partnership’s unitholders, and (iii) all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to BPMP’s unitholders.