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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Teekay LNG Partners L.P. (“Teekay LNG” or the “Company”) (NYSE: TGP) with Stonepeak. Under the terms of the agreement, investment vehicles managed by Stonepeak will acquire: (a) all the issued and outstanding common units representing limited partner units in Teekay LNG, including approximately 36.0 million common units owned by Teekay Corporation; and (b) 100 percent of Teekay’s ownership in Teekay LNG’s general partner, Teekay GP L.L.C., which includes an economic ownership interest equivalent to approximately 1.6 million Teekay LNG common units, for $17.00 per common unit or common unit equivalent in cash.
The Teekay LNG merger investigation concerns whether the Board of Teekay LNG has harmed stockholders by agreeing to enter into this transaction and whether all material facts have been properly disclosed to stockholders.
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