An investigation on behalf of investors, who currently hold shares of SemGroup Corporation (NYSE: SEMG), was announced concerning whether the takeover of SemGroup Corporation is unfair to SemGroup Corporation (NYSE: SEMG stockholders.

The investigation by a law firm concerns whether certain officers and directors of SemGroup Corporation breached their fiduciary duties owed to NYSE: SEMG investors in connection with the proposed acquisition.

Tulsa, OK SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants.

On September 16, 2019 SemGroup Corporation (NYSE: SEMG) announced it has entered into a merger agreement whereby SemGroup will be acquired by Energy Transfer LP (NYSE: ET) in a unit and cash transaction valued at approximately $5.1 billion, including the assumption of debt and other liabilities.

Under the terms of the agreement, SemGroup shareholders will receive $6.80 per share in cash and 0.7275 of an ET common unit for each SemGroup share. The transaction values SemGroup at $17.00 per share.

However, the investigation concerns whether the offer is unfair to NYSE: SEMG stockholders. More specifically, the investigation concerns whether the SemGroup 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.

SemGroup Corporation reported that its annual Total Revenue rose from over $2.08 billion in 2017 to over $2.5 billion in 2018.