Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of TransGlobe Energy Corporation (NASDAQ: TGA) (“TransGlobe”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by VAALCO Energy, Inc. (NYSE: EGY) (“VAALCO”).
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On July 14, 2022, TransGlobe announced that it had entered into an agreement to be acquired by VAALCO in an all-stock deal valued at $307 million. Pursuant to the merger agreement, VAALCO will acquire each TransGlobe share for 0.6727 of a VAALCO share of common stock. The deal is scheduled to close in the second half of 2022.
Bragar Eagel & Squire is concerned that TransGlobe’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for TransGlobe’s stockholders.
If you own shares of TransGlobe and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato by email at [email protected] or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
