Crestwood Shareholder Sues To Block $7B Inergy Merger

Law360, New York (June 7, 2013, 6:02 PM EDT) -- A Crestwood Midstream Partners LP shareholder launched a putative class action in Texas federal court Friday seeking to block Crestwood's planned $7 billion merger with fellow midstream oil and gas company Inergy Midstream LP, alleging Crestwood executives didn’t properly vet the deal.

Crestwood shareholder Johnny Cooper alleges that Crestwood’s board of directors breached its fiduciary duty by failing to secure a fair price for the company or its assets in the recently announced deal, agreeing to a unit-for-unit exchange with a meager 5 percent premium that...
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