NEW YORK, May 1, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Rice Midstream
Partners ("RMP" or the "Company") (NYSE: RMP). On
April 26, 2018, the Company,
announced that it had entered into a midstream streamlining
agreement pursuant to which EQT Midstream Partners LP ("EQT")
(NYSE: EQM) will acquire all outstanding shares of RMP in
unit-for-unit transaction valued at approximately $2.4 billion. Under the terms of the
agreement, RMP shareholder will receive 0.3319 of an EQT share for
each RMP share they hold, representing consideration of
$18.62 based on EQM's May 1
closing price.
WeissLaw is investigating whether RMP's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $25.00 per RMP share, or $6.34 more than the per-share
consideration. Moreover, the $18.62 per-share consideration is $7.52, or nearly 30%, less than RMP's 52-week
high of $26.18.
Given these facts, WeissLaw is investigating whether RMP
shareholders will obtain their fair and proportionate share of the
Company's continued success and growth prospects. If you own
RMP shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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 or fill out the form
on our website,
http://www.weisslawllp.com/rice-midstream-partners-lp/
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SOURCE WeissLaw LLP