PHILADELPHIA, PA / ACCESSWIRE / May 28, 2022 / Kaskela Law LLC announces that it is investigating Centennial Resource Development, Inc. ("Centennial" or the "Company") (NASDAQ:CDEV) on behalf of the company's current shareholders.
On May 19, 2022, Centennial announced that it would be combining in a "merger of equals" with Colgate Energy Partners III, LLC ("Colgate"). In connection with the proposed transaction, Centennial has disclosed that it expects to pay $525 million in cash, assume $1.4 billion of Colgate's outstanding net debt, and issue over 269 million shares of Centennial stock to Colgate's current owners (who are expected to own 47% of the combined company).
The investigation seeks to determine whether the transaction as structured is fair to Centennial shareholders, and whether Centennial's directors have breached their fiduciary duties by failing to disclose all material information about the proposed transaction to investors.
Centennial shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/centennial/ , to receive additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 - 0750
(888) 715 - 1740
www.kaskelalaw.com
SOURCE: Kaskela Law LLC