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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of El Paso Electric Company (“El Paso” or the “Company”) (NYSE: EE) to the Infrastructure Investments Fund, an Investment Vehicle Advised by J.P. Morgan Investment Management Inc.. Under the terms of the deal, the shareholders of El Paso will receive $68.25 per share in cash for each share of El Paso they own.
The El Paso merger investigation concerns whether the Board of El Paso breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the Infrastructure Investments Fund is underpaying for El Paso shares, thus unlawfully harming El Paso shareholders.
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