Friday, May 8, 2015

Faruqi & Faruqi Investigation: Crestwood Midstream Partners

CRESTWOOD MIDSTREAM PARTNERS LP INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Crestwood Midstream Partners LP Over the Proposed Sale of the Company to Crestwood Equity Partners LP – (CMLP)

May 7, 2015 – Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Crestwood Midstream Partners  (“Crestwood Midstream” or the “Company”) (NYSE: CMLP) for potential breaches of fiduciary duties in connection with the sale of the Company to Crestwood Equity Partners (“Crestwood Equity”) (NYSE: CEQP) for approximately $3.5 billion in an all-stock transaction.  The Company’s stockholders will receive 2.75 Crestwood Equity Units for each share of Crestwood Midstream common stock they own, which values shares of Crestwood Midstream at around $18.75 per share. Interestingly, Analysts have priced shares of Crestwood Midstream as high as $26.00, $7.25 higher than what the deal values the Crestwood Midstream shares at.
The investigation focuses on whether Crestwood’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Crestwood Midstream’s shareholders.
If you own common stock in Crestwood Midstream’s and wish to obtain additional information and protect your investments free of charge, please contact F&F partner Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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