|Company name||Quintana Energy Services, Inc.|
NEW YORK, May 4, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Quintana Energy Services, Inc. (NASDAQ: QES) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed merger with KLX Energy Services Holdings, Inc.
On May 3, 2020 Quintana announced that it had signed an agreement to be acquired by KLX in an all-stock transaction. Per the merger agreement Quintana’s stockholders will receive 0.4844 shares of KLX common stock for each share of Quintana common stock owned. The deal is scheduled to close in the second half of 2020.
Bragar Eagel & Squire is concerned that Quintana’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Quintana’s stockholders.