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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Anadarko Petroleum Corporation (NYSE: APC) to Chevron Corporation (NYSE: CVX). Under the terms of the transaction, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share they own, representing an approximate value of $65 per share.
The Anadarko merger investigation concerns whether the Board of Anadarko breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Chevron is underpaying for Anadarko shares, thus unlawfully harming Anadarko shareholders.
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