We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Brigham Minerals, Inc. (“Brigham” or the “Company”) (NYSE: MNRL), in connection with its proposed merger with Sitio Royalties Corp. (“Sitio”) (NYSE: STR). Under the terms of the merger agreement, Brigham shareholders will receive a fixed exchange ratio of 1.133 shares of common stock in the combined company for each share of Brigham common stock owned, and Sitio’s shareholders will receive one share of common stock in the combined company for each share of Sitio common stock owned. Upon completion of the transaction, Sitio shareholders will own approximately 54.0% and Brigham shareholders will only own approximately 46.0% of the combined company.
Weiss Law is investigating whether (i) Brigham’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 Brigham’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.