We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Shell Midstream Partners, L.P. (“Shell” or the “Company”) (NYSE: SHLX), in connection with the proposed acquisition of the Company by Shell USA, Inc. (“Shell USA”). Under the terms of the merger agreement, the Company’s unit holders will receive $15.85 in cash for each Public Common Unit of Shell common stock owned. A subsidiary of Shell USA currently owns 269,457,304 Shell common units, or approximately 68.5% of Shell common units. The transaction is valued at approximately $1.96 billion.
Weiss Law is investigating whether (i) Shell’s board of directors acted in the best interests of Company unit holders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Shell’s unit holders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.