PVR Investor Sues To Block $5.6B Regency Merger

Law360, Wilmington (October 18, 2013, 8:20 PM ET) -- An investor in oil and gas firm PVR Partners LP filed a class action Friday to halt a proposed $5.6 billion merger with competitor Regency Energy Partners LP, arguing the deal discourages other bidders and leaves shareholders out of PVR’s long-term growth potential.

Investor David Naiditch in his suit filed in Delaware Chancery Court also accuses several members of PVR’s board of directors of breaching their fiduciary duties by effectively scaring off other potential bidders with several deal-protection devices such as a no-solicitation provision, a matching...
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