March 8, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Delta Natural Gas Company, Inc. (NASDAQ:DGAS), was announced concerning whether the takeover of Delta Natural Gas Company, Inc. by Peoples Natural Gas for $30.50 per share is unfair to NASDAQ:DGAS stockholders.

The investigation by a law firm concerns whether certain officers and directors of Delta Natural Gas Company, Inc. breached their fiduciary duties owed to NASDAQ:DGAS investors in connection with the proposed acquisition.

On February 21, 2017, Delta Natural Gas Company, Inc. (NASDAQ:DGAS) announced that it has entered into a definitive agreement to merge with an affiliate of Peoples Natural Gas. Under the terms of the transaction, Delta Natural Gas Company, Inc. (NASDAQ:DGAS) shareholders will receive $30.50 in cash per NASDAQ:DGAS share.

However, the investigation concerns whether the offer is unfair to NASDAQ:DGAS stockholders. More specifically, the investigation concerns whether the Delta Natural Gas Company Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of Delta Natural Gas Company, Inc. (NASDAQ:DGAS) closed on March 2, 2017 at $30.30 per share.