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If you purchased shares of Magellan Petroleum Corporation (NASDAQ:MPET) prior to August 28, 2012, and currently hold any of those NASDAQ:MPET shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
Aug. 30, 2012 (Shareholders Foundation) -- An investigation on behalf of investors Magellan Petroleum Corporation (NASDAQ:MPET) shares was announced concerning whether a takeover of Magellan Petroleum Corporation would be unfair to investors in NASDAQ:MPET shares.
On August 28, 2012, Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) announced that it made an offer to acquire Magellan Petroleum Corporation (NASDAQ: MPET) for $2.30 per share in cash and stock.
Following the takeover proposal shares of Magellan Petroleum Corporation (NASDAQ:MPET) jumped from $0.98 per share on Monday to $1.589 per share on Tuesday, August 28, 2012.
However, shares of Magellan Petroleum Corporation (NASDAQ:MPET) reached during 2011 as high as $3.04 per share.
Therefore the investigation by a law firm for NASDAQ:MPET investors concerns whether a potential takeover would be unfair to by a law firm stockholders. Specifically, the investigation focuses on whether the Magellan Petroleum Board of Directors will undertake an adequate sales process, adequately shop the company before entering into the transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with a potential sale.
