Bankrupt Firm Resists Takeover Attempt

摘要

SemGroup LP is trying to thwart a takeover bid by New York refiner and marketer John Catsimatidis, alleging he is "trying to seize control" of its management committee to "force through his own self-interested proposal." The terminaling and storage firm filed for Chapter 11 in July 2008. It claims Catsimatidis, owner of United Refining, has tried to "hijack and control" its reorganization efforts issuing misleading press releases about how he would reorganize the company, making direct appeals to company employees, and holding secret meetings with select mpmbers of SemGroup management.