Brower Piven Announces an Investigation of the Possible Acquisition of K-Sea Transportation Partners L.P. by Kirby Corporation

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of K-Sea Transportation Partners L.P. (“K-Sea”) (NYSE: KSP) and other violations of state law by the Board of Directors of K-Sea relating to the proposed acquisition of the company by Kirby Corporation (“Kirby”) (NYSE: KEX).

On March 13, 2011, Kirby announced that they have entered into a definitive merger agreement for K-Sea to be acquired by Kirby. The transaction is valued at approximately $600 million. Under the terms of the agreement, K-Sea's common and preferred unitholders will receive $8.15 per unit in consideration in the form of cash and Kirby common stock. K-Sea's common unitholders will have the election to receive for each common unit either $8.15 in cash or $4.075 in cash and 0.0734 of a share of Kirby common stock. K-Sea's preferred unitholders will receive for each preferred unit $4.075 in cash and 0.0734 of a share of Kirby common stock. K-Sea's general partner will receive $8.15 in cash for each general partner unit and $18 million in cash for its incentive distribution rights. The closing of the transaction is expected to occur in June or July 2011 and is subject to certain conditions, including approval by K-Sea's unitholders and the expiration of the required waiting period under the Hart-Scott-Rodino Act.

If you currently own shares of K-Sea and would like to learn more about the investigation being conducted by Brower Piven, you may e-mail or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [e-mail], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.