Another Inergy Investor Fights To Block $1.9B Merger

Law360, New York (September 30, 2010, 6:12 PM EDT) -- A unitholder of propane supplier Inergy LP has filed a putative class action in an effort to stop the company's $1.9 billion purchase of parent Inergy Holdings LP, arguing that Inergy is overpaying by 27 percent.

Joel A. Gerber filed a complaint alleging breach of fiduciary duty on the part of Inergy's officers and directors in the Delaware Court of Chancery on Thursday.

Gerber is seeking to enjoin the “self-interested and nonaccretive transaction” in which Inergy will merge with Inergy Holdings “at an excessive cost to...
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